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Why consideration is not necessary in agency as it is in contract?
Wiki User
∙ 10y ago
OO BHai mery do Ghany ho gaye nae mil raha.. Mily to hamain bhe btana.
I have spent two hours on it but unable to find it, Help me if u can
Wiki User
∙ 10y ago
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Consideration is totally unnecessary for the formation of contracts?
Consideration is actually absolutely necessary for the formation of contracts. A contract that does not have consideration is basically invalid unless one party can show detrimental reliance.
What is a consideration of a contract?
Consideration is the Promise or Performance that flows between the parties to a contract. It is also called legal detriment.
When was Defense Contract Management Agency created?
Defense Contract Management Agency was created in 2000.
When was Defense Contract Audit Agency created?
Defense Contract Audit Agency was created in 1952.
What are the advantages and disadvantages of past consideration?
The advantages of consideration in a valid contract
How is a contract of agency created?
You can choose to download a sample modeling agency contract--many of which are available online--and then tailor it to fit your agency or you can hire an entertainment attorney to help you create a contract from scratch.
Where there is no consideration there is no contract-comment?
In business
What are the ways a contract of agency may arise?
when agency arise
What does stranger to contract and consideration mean?
1. A stranger to the contract is an entity not party to a contract. It can also specifically refer to an entity seeking to deprive one of the parties the benefit of the contract, such as in the case of the business torts of tortious inference with contract or tortious interference with an advantageous business relation.2. The unrelated concept of consideration is an element necessary for contract formation, in addition to mutual assent or offer and acceptance. It is defined as a bargained-for exchange; that is, an exchange of value between the parties, legally justifying the benefit of the contract accruing to the party. It can also take the form of a detriment incurred by one of the parties. There are alternative contract-law theories that can substitute for consideration under appropriate circumstances.
Can an option contract be created without consideration?
No, in order to create a legally binding option contract, consideration is required. Consideration is what each party gives or promises to give in exchange for the other party's promise. It is a key element in forming a contract and provides the basis for a valid agreement.
Do you have an example of a Talent Agency Contract?
Each agency has its own individual contract and most of them are confidential but this link is to Cast Images, which is a talent agency in California, which lists the terms of their contract in full:http://www.castimages.com/contract.cfm?user=Talent
The first step in negotiating a contract is?
consideration
