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Contracts are separate from empty promises because they are formally made and legally enforceable. There are legal consequences for breaking contracts.

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10y ago

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Related Questions

Distinguish between domestic sales contract and export sales contract?

Domestic agreements are not intended to be legal binding Commercial contracts are intended to be legal binding


Do contracts have to be in writing in order to be legally binding?

Yes, contracts do not have to be in writing to be legally binding, but it is generally recommended to have written contracts to avoid disputes over the terms and conditions.


Are oral contracts about lottery winnings binding?

yes


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.


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.


Are verbal contracts binding in Arizona?

Oral contracts can be enforced in Arizona. But the contract cannot violate the statute of frauds which requires certain contracts to be in writing.


How are contracts involving a minor considered legally binding and enforceable?

Contracts involving a minor are generally not considered legally binding and enforceable. Minors are not considered to have the legal capacity to enter into contracts, and therefore any contract they enter into can be voided by the minor or their legal guardian.


How binding is a purchase agreement?

Contracts are legally binding on both parties to them.


What is the legal age in Indiana for signing binding contracts?

In Indiana, the legal age to enter into binding contracts is 18 years old. Individuals under the age of 18 are considered minors and can only enter into contracts for necessities or with parental consent. Additionally, contracts entered into by minors are generally voidable at their discretion until they reach adulthood.


Is a college catalog a binding contract in Virginia?

A college catalog can be a binding contract in Virginia if the college requires this. Not all colleges in Virginia make their college catalogs binding contracts.


What was a binding legal agreement in ancient Egypt?

I don't know but I think it contracts


In UK is a contract binding if verbal?

verbal contracts are hard to prove, unless it is recorded

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