0
What is an agreement between two or more people promising to work toward a specific goal for adequate consideration?
Wiki User
∙ 12y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is adequate insurance?
Adequate insurance depends on your specific situation; the Needs Calculator will help you determine the adequate amount for your specific needs.
Is a deed an agreement made in a specific form which unlike a contract can create legally binding obligations without the need for consideration?
A lien or security is provided by the mortgagor to a mortgagee. The collateral for the loan is evidenced by the securtity instrument or deed. The note and obligation procceeds are exchaged for the lien security and are considered mutual valuable consideration.
What does consideration mean on Schedule F?
Agreeably I'm not familar with the specific cite your referencing, but consideration in virtually all legal and financial things means what was given of value...money, promise to pay, trade of some asset, etc., even the term "love and other valuable considerations" to address it are commonly used. Other things can be. If you got something say someones old car, for $100 and promising to paint their house...that is all the consideration you exchanged for the car.
What is the process for formalizing a business agreement?
In regards to formalising a business agreement between partners, it requires documents containing the basic information of the partnership agreement. This can prevent confusion over specific roles, but could also be a disadvantage if not adequate. A formal contract can be defined as an agreement between two different parties that is legally binding. This requires that the contract is made up of an offer, acceptance of the offer and any payment given for services or goods. Although it doesn't have to be written down, having an agreement in writing stops any confusion later.
What is an ad-hoc agreement in trading?
An ad-hoc agreement in trading is one that is done for a specific purpose. Generally, this is a temporary agreement to accomplish a trade that couldn't otherwise be handled.
What is a spate agreement?
An agreement is a compromise or understanding between two parties concerning a specific set of details. A spate agreement is when the two parties agree exactly with no need for compromise.
A paper that has signatures from neighbors that agree to do something?
It would be generally called an agreement. To be more specific it would depend on the subject of the agreement.
What are the chemical used in potentiometric titration?
The most important is an adequate titrant necessary for a specific titration.
In North Carolina if you have a separation agreement then move back with the spouse for a week does that make the agreement non-void?
Not unless there is some specific language in the agreement that forbids it...and I doubt there is any such language.
How is consideration distinguished from the doctrine of past consideration?
Essentially past consideration in common law is by its nature not consideration. Consideration is defined as a bargain for exchange. Where one element of a deal has already occurred before the deal began, there was no bargain. If for example, you give me a shiny stone as a gift. A couple weeks later, we find out that the stone is a rare ruby worth millions. I decide that I'm going to sell it and promise to give you 1/2 of the earnings in consideration for you giving me the stone in the first place. The reason that this is not consideration is that there must be a bargain. You must do something to entice me to do something in return, and I must do something to entice you to do something in return. Promising to give you 1/2 of the earnings did not entice you to give me the stone in the first place, so therefore there was no bargain in place and my promise is merely a gift. However, most states authorize past consideration though statute in specific situations. For example New York authorizes past consideration under General Obligations Law § 5-1105.
I mainly want to know what a sample lease agreement is and what the advantages of this type of agreement are.?
A sample lease agreement is a template of a rental agreement that leasers can use to customize their own contracts. A sample lease agreement isn't necessarily a specific type of agreement in and of itself; rather, it is an example of a typical agreement that you can use so you don't have to write yours from scratch.
Is a verbal agreement between divorced parties binding for non-payment of child support and alimony?
As the saying goes, "A verbal agreement isn't worth the paper that it written on" if in court both parties agree they had this agreement and are wiling to abide by it then the court wll consider its legal validity. However if one party disavows or denys this agreement in court then the court will probably not give it any consideration.
