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An enforceable contract requires the existence of the following elements: an offer, an acceptance that mirrors the terms of the offer, consideration, and lawful subject matter.
The "consideration" can consist of money, property, a promise--just about anything of value that is not unlawful. Generally, a court will not inquire into the adequacy of the consideration. "Consideration" might be thought of as the "this for that" or the "quid pro quo".
Even of the other elements are present, a contract cannot be enforced if the object of it is unlawful. That is, one cannot, for example, enforce a contract to rob a bank.
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∙ 13y ago
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If a contract is changed without the knowledge of the guarantor is it valid?
A contract is valid when there is a meeting of the minds. Once a contract is signed, it cannot be changed unless written as an addendum and signed by all parties concerned. A verbal agreement cannot override a written agreement.
If a dealership makes a mistake on a contract is it valid?
In dealings such as these, consult an attorney in your local area. A contract, even one with errors, is legally binding upon the signing parties. Hopefully the error is in your favour. Note that if you didn't have an attorney look over the contract, it could be completely different from what the dealership said. (A verbal contract is generally only worth the paper it's printed on.) I am not a lawyer. You should consult a local lawyer. It's always a good idea to have your own attorney look over any contract before you sign it.
Does defaulting on a payday loan constitute check fraud?
Defaulting on a payday loan does not, in and of itself, constitute check fraud.
Is a surviving spouse who did not sign responsible for a loan the deceased cosigned?
The spouse would only be responsible if they lived in a community property state. Even then it is doubtful the contract would be valid if there were an attempt to collect the debt.
How easy is it to have your name removed from a car loan?
You cannot get your name removed from a valid loan. If you signed the contract your name remains in place until the loan is paid off. The only time I have seen the name on a valid loan adjusted was when a signer passed away and another party legally assumed the loan from the finance company. And no, divorce decrees will not help you.
How do you use to constitute in a sentence?
That did constitute a valid request.
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.
Doe an invitation to negotiation always constitute a valid offer?
No. An invitation to negotiate (or invitation to bargain) is actually inviting others to make an offer of their own. This is an important distinction, because an offer can be accepted, creating a binding contract.
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
Does a contract for deed constitute legal or equitable title?
Equitable.Equitable.Equitable.Equitable.
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
