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Will an unenforceable promise constitute consideration as long as the parties to the contract appear to be in agreement?
Wiki User
∙ 11y ago
true
Wiki User
∙ 11y ago
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What is the difference between a void contract and an unenforceable contract?
Void contracts and unenforceable contracts are often used interchangeably. A void contract is not valid and therefore unenforceable. An unenforceable contract may be valid, but can not, for a number of reasons, be lawfully enforced.
What is the difference between a void contract and unenforceable contract?
Void contracts and unenforceable contracts are often used interchangeably. A void contract is not valid and therefore unenforceable. An unenforceable contract may be valid, but can not, for a number of reasons, be lawfully enforced.
When does an agreement become contract?
An agreement becomes a contract when there is an offer, acceptance and consideration. Absence of a written contract does not prevent a contract from being form. A contract can be both expressed or implied. Written or verbal.
Is a credit card contractual agreement enforceable if there is no signed copy of the card agreement in existence and can a contractual agreement exist only by the signing of the card and its use?
If there is no signed agreement then it is unenforceable as all of the terms relating to the contract are within this agreement.
What is the difference between a void contract and a unenforcable contract?
Void contracts and unenforceable contracts are often used interchangeably. A void contract is not valid and therefore unenforceable. An unenforceable contract may be valid, but can not, for a number of reasons, be lawfully enforced.
Do reciprocal promises in an executory contract constitute sufficient consideration?
lol no read your text book :P
What is preexisting contractual duty?
A preexisting contractual duty is a common law rule of contract. It is wherein a party's offer of a performance already required under an existing contract is an insufficient consideration for modification of the contract.
What if wrong person signs a contract who isnt legally allowed to because property does not belong to them?
If the contract affects the property then it is null and void and unenforceable if the owner didn't sign it.If the contract affects the property then it is null and void and unenforceable if the owner didn't sign it.If the contract affects the property then it is null and void and unenforceable if the owner didn't sign it.If the contract affects the property then it is null and void and unenforceable if the owner didn't sign it.
Identify the term contract?
A contract is defined in law as an agreement between two parties with an offer, acceptance, and consideration.
What is the significance of contractual consideration?
the significance of consideration in law of contract is that it sets a value of exchange to the agreement between the parties
Do you have to mail in the donation you promised to a charity solicitor?
Technically you may have entered into a verbal contract, but such a contract is probably unenforceable, since usually there's no consideration on the part of the charity. So no, you don't have to actually donate if you change your mind.
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.
