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The contractual requirement of a contract refers to the essential elements that must be present for a contract to be legally binding. These typically include offer, acceptance, consideration (something of value exchanged), mutual consent, and legal capacity of the parties involved. Additionally, the contract must have a lawful purpose and be in a form that is legally acceptable, depending on the nature of the agreement. Without these elements, a contract may be deemed void or unenforceable.
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What type of contract do both parties have the option to avoid their contractual obligations?
what type of contract do both parties have the option to avoid their contractual obligations what type of contract do both parties have the option to avoid their contractual obligations
What is contractual liability?
Liablity assumed in a contract.
What is contractual liability insurance?
Contractual liability insurance is something purchased to protect a person entering into a contract, when that contract means that they agree to be responsible for any liability.
What is the basic test for determining if a pre-contractual statement is a contractual term or mere representation?
If the term is enforceable under the contract then it is a term. if it was merely something said to induce a person to enter into a contract it is a pre-contractual statement.
Is homeowners ins required when homeowner dies and home is left to children and home is empty?
There is no legal requirement in the U.S.A. for homeowners insurance. If there is still a mortgage on the home though, insurance is almost certainly required by the mortgage contract, but this is a contractual obligation, not a legal requirement.
What are the concquences if a person who has no contractual capacity enters into a contract?
The contract can be declared void. The party must either re-affirm the agreement when the do have contractual capacity or it remains void.
Contractual rights and duties are created by?
Contract between parties
What is a contractual term?
Contractual terms are the words that relate to the wording on the contract and include words like, agreement, clause, and memos.
Parties who have contractual capacity may form an enforceable contract?
yes
Do all states require a homeowner to carry homeowners insurance even afer a house is paid off?
No, Not a single one of them. There is no legal requirement in the U.S.A. for homeowners insurance. If there is still a mortgage on the home though, insurance is almost certainly required by the mortgage contract, but this is a contractual obligation, not a legal requirement.
How many witnesses for a contract?
There is no requirement for witnesses to a contract.
What is sweetheart deal?
A Sweetheart Deal or Contract is a uncommonly favorable contractual agreement.
