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Yes, credit agreements are legally binding contracts between a borrower and a lender, outlining the terms and conditions of borrowing money.

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AnswerBot

5mo ago

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Is a thumbs up gesture considered legally binding in any formal agreements or contracts?

No, a thumbs up gesture is not considered legally binding in any formal agreements or contracts. Written or verbal agreements are typically required for a contract to be legally binding.


Do all contracts have to be in writing, or are verbal agreements legally binding?

Verbal agreements can be legally binding, but it is generally recommended to have contracts in writing to avoid misunderstandings and provide clear evidence of the agreement.


What did the Supreme Court rule about executive agreements in 1937?

They are legally binding in the same way that treaties are.


Is a sales agreement binding if your wife puts your name on the credit application but you never signed it?

Absolutely, positively, not. Find out what car dealers don't want you to know at www.dealertricks.com Sales agreements are not binding to any party however sales contracts are. You are not legally bound if you did not sign the sales contract. Consequently you may have a credit inquiry on your record that you did not request.


Why do we need contracts and how do they help in ensuring agreements are legally binding and enforceable?

Contracts are necessary to establish legal agreements between parties. They help ensure that agreements are legally binding and enforceable by outlining the rights and obligations of each party involved. Contracts provide clarity and protection by specifying the terms and conditions of the agreement, making it easier to resolve disputes and hold parties accountable if the agreement is not upheld.


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Collective Bargaining Agreements (CBAs) are __________ that both sides (employer and labor union) must adhere.


Is a verbal agreement binding in Arkansas?

Verbal agreements are not binding anywhere.


In Canada is a verbal contract legally binding?

Technically yes for many things, but only if can be proven to have existed in the first place. There are specific agreements that must be in writing, such as agreements to purchase or sell land, or items for longer than a year.


Is off the record legally binding?

No, information that is "off the record" is not legally binding. It is an agreement between the parties involved, but it does not hold the same weight as a legally binding contract.


Is a sealed bid legally binding?

Sealed or not, if the bid was offered and it was accepted, yes, it is legally binding.


Can a 17-year-old get a loan to buy a used vehicle if he has a cosigner with great credit?

No, minors cannot legally enter into financial agreements.


Were those who wanted the Cherokees' land influenced by the fact that the Cherokee signers of the 1835 treaty had acted illegally?

right to sign treaties legally binding agreements with other countries