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What condition must be met before the duty to perform is triggered in a contract?
In a contract, the duty to perform is triggered when both parties agree to the terms and conditions outlined in the contract.
What is consideration and its condition?
That something of value is offered - that the offer is accepted - and THAT IT ACTUALLY PASSES HANDS. Without all three condition being met there is NOT a valid contract.
What condition must be met for a contract to be enforceable, according to the keyword "for a contract to be enforceable it should"?
For a contract to be enforceable, it should meet the requirements of offer, acceptance, consideration, legality, capacity, and intention to create legal relations.
What is the legal difference between using "and" versus "or" in a contract or agreement?
In a contract or agreement, using "and" typically requires all conditions to be met, while using "or" allows for only one condition to be met. This distinction can impact the obligations and rights of the parties involved.
A condition that must be met?
A condition that must be met is a requirement.
What is the legal term for a condition in a contract that must be fulfilled in order for the contract to be binding?
The legal term for a condition in a contract that must be fulfilled for the contract to be binding is called a "condition precedent."
What is Breach of condition?
A contract between two or more parties might contain conditions. If a condition of a contract is broken, it is a breach of condition.
When is a contract breeched?
when the condition specified in the contract are not followed then the contract is said to be breached.
What is the difference between reps and warranties in a contract?
Reps are statements of fact made by one party in a contract, while warranties are promises or guarantees about the quality or condition of something being sold. Reps are typically made at the time of contract formation, while warranties are ongoing assurances that certain conditions will be met.
In what condition must both parts of the query be met?
And condition
What does you lastly met with him means?
"Tom and I are finishing the new contract; we should be done this week. I last met with him on Friday, and we exchanged drafts of the contract at that time."It would be last met, and not lastly met. It means (above) the last time I met with him was...
Who keeps legal title under a land contract until all the terms of the contract are met?
A Vendor
