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How does bilateral contract and advertisement differ?
A bilateral contract is an exchange of promises the law will enforce. A contract requires an offer, acceptance, and consideration. An advertisement is generally considered an invitation for an offer. In consumer transactions, a buyer is typically the offeror. The advertisement serves as the sellers invitation to the buyer to make an offer, thus the offer could be rejected by the seller. However, an advertisement could be construed as a valid offer if it contains clear and definitive terms. For example: Playstation 4 for 50% off to first 10 customers. The terms are clear and there is nothing left to negotiate. This would actually be a unilateral contract which becomes binding upon performance by the buyers.
What is the Difference between valid and void contract?
A valid contract is legally enforceable and meets all the essential elements required by law, such as mutual assent, consideration, capacity, legality, and proper form. On the other hand, a void contract is not legally binding from the beginning due to a fundamental flaw, such as illegality, lack of capacity, impossibility, or violation of public policy. A void contract is treated as if it never existed, while a valid contract creates legal obligations between the parties.
What are the examples of essentialia of a contract?
valid contract
If an item line of a contract is changed and not initialed by both party's is it still a valid contract?
No. It is no longer valid.
How can misrepresentation affect a valid contract?
When someone is induced into entering into a contract as a result of a false statement.
Explain the elements of a valid contract?
Valid elements of a contract include both parties signatures. A contract must also include both parties agreeing on the terms of the contract.
Is money lending a valid contract?
It depends on the contract If you are borrowing from a bank or other valid institution I will guaranty the contract will be valid and enforceable. If you are borrowing from your local loan shark, the "contract" may not be valid, but do you want to take the chance?
If the signatories to a contract change is the original contract still valid?
The contract technically isn't valid if the name has changed. You should resign a contract if you would like to continue the business relationship.
What is valid contarct?
A valid contract is an agreement enforceable by law. A Valid Contract is defined under Sec 2(h) of the Indian Contract Act, of 1872. To know the essential features of forming a valid contract, please refer to Desire 4 Legal Knowledge
Is viodable contract is a type of valid contract?
Yes: It is a valid contract in the beginning but subsequently it changes into voidable contract due to some uncertain reasons. For example; A person do contract to B person that he will give some garments importing from London and the B accepts it, after it in the way some thing happen and the product is destroyed then a valid contract will be change in a voidable contract.
If you signed a contract while you were stoned and you can prove you were incapacitated is that contract valid?
No
What are the components of an offer?
An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.
