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To make a contract as per Indian Contracts Act, the following are the essential ingredients
a. Proposal whether oral or written
b. The person who makes an proposal
c. Knowledge of the proposal
d. free consent for Acceptance / revocation of the proposal
e. consideration
f. The person who accept / revoke the proposal
What else can I help you with?
Is a contract a legally enforceable promise or set of promises?
yes any contract is leagaly binding
What is an unwritten agreement that are legally enforceablecalled?
An unwritten, legally enforceable agreement is usually called a verbal contract.
Can a 17 year old sign a contract in Mighigan?
They can sign it, but it is not legally enforceable.
When must a contract be in writing to be legally enforceable?
A contract must be in writing to be legally enforceable when it involves the sale of real estate, a promise to pay someone else's debt, or an agreement that cannot be completed within one year.
If a contract is not enforceable is it valid in Va?
The contract is always inforceable by law. And all the parties are legally perfoming there contracts.
When there is an agreement in principle is it legally binding?
Generally speaking, an agreement in principle precedes a contract. The contract is enforceable but the agreement is not.
Is a family constitution a legally enforceable document and where can one get a template?
No, It is known as an intra-family social contract and not legally enforceable. Social service agencies cometimes can be sources of guidlelines for the wording these agreements.
Is an emancipation needed to sign contracts?
You must be 18 or emancipated to sign a legally enforceable contract.
Is a contact without a date legally enforceable?
Yes, it can be enforced. If it is reasonably clear as to the expectations and time frame involved, the court can rule that it is a valid and enforceable contract.
What is a business contract?
A contract is a legally enforceable agreement between two or more persons. A business contract might just be a contract entered into between businesses or for business purposes.
Key elements of a valid contract?
A valid contract includes an offer by one party, acceptance by the other party, consideration exchanged between the parties, legal capacity of the parties to enter into the contract, and a legal purpose for the contract. These elements are essential for a contract to be legally enforceable.
What is the Difference between valid and void contract?
A valid contract is legally enforceable and meets all the essential elements required by law, such as mutual assent, consideration, capacity, legality, and proper form. On the other hand, a void contract is not legally binding from the beginning due to a fundamental flaw, such as illegality, lack of capacity, impossibility, or violation of public policy. A void contract is treated as if it never existed, while a valid contract creates legal obligations between the parties.
