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Contract Law

Law covering the establishment, administration of contracts (legally enforceable agreements), the rights and obligations of those entering into contracts, the validity of contracts and disputes over contracts.

2,211 Questions

What are examples of express contract?

Express contract: Express contract is one which is made by words spoken or written. Example No. 1: X says to Y, will you buy a car for Rs. 100000? Y says to X, I am ready to buy you car for Rs. 100000. It is an express contract made rally. Example No. 2: X writes a letter to Y, I offer to sell my car for Rs. 100000 to you. Y send a letter to Y, I am ready to buy you car for Rs. 100000. It is an express contract made in writing.

Industrial disputes settlement machinery under industrial disputes act 1947?

1. Work Committee.

2.Consolation Officer.

3.Bord of consolation.

4.Labor court/Industrial Tribunal/Nation Tribunal.

5.Voluntary reference to arbitration.

Runu Chakrovorty

Vill+P.O:Chandpara

Dist:Birbhum

Pin:731241

West Bengal.

A contract is enforceable by what law?

Contracts are not enforceable by law, rather by the principles that are enforced by the courts. If a contract exists ( which is always a question posed by the court ), and there is a breach of contract, the courts will apply precedent and principles from the previous cases to determine the matter. There is to an extent a concept of common law meaning court made law that regulates this area, but there is no law as such that regulates the law of contract. No law of parliament is generally used in this kind of law.

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Can a 17 year old enter into a legal contract in Tennessee?

During research I found many websites with conflicting (and oftentimes personal), opinions on this question. Tennessee's statutes seem vague on this subject but the below seems to be the most authoritative source I could find. TENNESSEE: 18 years of age; unless child is still in high school; in such cases emancipation occurs when child graduates from high school or when he/she reaches age of majority.

SEE: http://www.tangledmoon.org/majorityage.htm

Can a letter of intent for a construction contract be considered a binding contract?

Letters of intent typically do not lead to liability for divergences of act or in omission as to their content, in and of themselves. However, the manifestations through letters of intent can affect findings of fact and conclusions of law as to duties, rights and obligations as to subsequent contracts and the legal implications and consequences arising from associated commercial activities.

What are the conditions that much apply before a contract is considered valid?

There are generally six requirements of a valid contract:

1. Agreement- which requires offer and acceptance.

2. Considerations- money.

3.Capacity to contract- Must not be minor, insane or intoxicated.

4.Genuineness of Assent- intention of both parties when contract was entered into.

5. Lawful purpose- must be for legal use in order to be a valid contract or enforceable contract.

6. Lawful Form- if the law requires it to be in writing it must be. Statue of Frauds requires that all Real Estate contracts with the exception of a residential lease lasting less then 3 years must be in writing.

Only after all these requirements have been met can a contract be deemed valid and legally enforceable.

A meeting of the minds is the most important aspect.

In some cases the court can infer contract terms if they determine that there was a contract. The two key items are the Who and What.

Who - The names of the parties.

What - The obligations of the parties. How much, when and what is the price.

Who is the offeree and offeror in a tender?

Any offer is a statement of intention to contracting normally it is directed to a specific party to whom the offeror want to contracting . Its any important Term because all contracts start with it if they're going to be legal binding . After any offer has been accepted no further discussion or negotiation will follow .

Offeree is one to whom the offeror is directing the offer , simple that this is the party who will accept the offer . note : Offer is done by the Offeror to the Offeree if the Offeree accept the offer then the contract will be completed .

Can you sue a person who owes you money with no contract signed?

Yes . Assemble any available documentation of the loan for a legal action. This should include proof of withdraw from your bank account, canceled checks and substantiating testimony by witnesses to the loan arrangement. You should also document proof that part of the money has been paid back, if this is the case. The court will likely see partial payment as evidence that the loan in fact existed.

Read more: How to Get Money Back If Lent Without a Promissory Note | eHow.com http://www.ehow.com/how_5872020_money-back-lent-promissory.html#ixzz1cyLwvNI0

Who would be most threatened by the social contract theory?

Anyone who is self-sufficient* would feel threatened by the social contract theory. An example from TV would be Grizzly Adams (or anyone who could function on their own as he did). For anyone who does not know Grizzly Adams think of living without public resources such as water, electricity, and roads. You would take care of everything you need; everything.

*Note: self-sufficient has nothing to do with money because you need the social contract theory to make money or even have a currency.

What is a hold harmless agreement?

Also called an "indemnification", this type of agreement protects someone from being sued because of what a third person does to the victim. For example, before I let you clean the floors of my office, you will have to indemnify me (hold me harmless) if you negligently leave a dangerous condition that injures a visitor. The visitor sues me, I invoke indemnification, you pay all my legal bills and any damages awarded by the court.

Is contract on plain paper enforceable under law?

In most places a written contract is enforceable. There are places where you have to contract on stamped paper for certain types of agreements.

What is partial performance in contract law?

When one of the parties only does some of what they said they would do. The innocent party does not have to pay them for what they did not do.

Is it legal to manufacture US military uniforms outside the US?

Yes, it can be made outside the US. There is a large percentage of US material that is designed and manufactured by NATO participants. These can be made in many places in Europe. Items as big as the 76mm guns on Navy ships are made overseas.

What contracts are specifically required to be writing under the statute of frauds?

You might want to check with a State of Washington attorney, but according to an internet search, RCW 19.36.010 reads:

In the following cases, specified in this section, any agreement, contract and promise shall be void, unless such agreement, contract or promise, or some note or memorandum thereof, be in writing, and signed by the party to be charged therewith, or by some person thereunto by him lawfully authorized, that is to say: (1) Every agreement that by its terms is not to be performed in one year from the making thereof; (2) every special promise to answer for the debt, default, or misdoings of another person; (3) every agreement, promise or undertaking made upon consideration of marriage, except mutual promises to marry; (4) every special promise made by an executor or administrator to answer damages out of his own estate; (5) an agreement authorizing or employing an agent or broker to sell or purchase real estate for compensation or a commission.

What does third party beneficiary imply?

It's the party for whom the insurance was purchased to save his interest if the contracting party was proved to be liable against him

Does a valid contract have to be witnessed by a legal representative?

No. You can make a verbal contract if you so desire, with only the two parties. But, it's not worth the paper it's printed on. Legal contracts require three things. Offer, acceptance, and consideration. You can get it notarized or anything you want, make people watch if you so wish. But even if you scribble crap on a napkin and if it meets the minimum requirements, it's valid.

Are minors considered competent parties to enter an agreement?

At common law, contracts made with minors are voidable. This means that a child that enters into a contract and then repudiates it cannot be held liable. However, a non-minor party is bound and liable. Since the contract is not void, it is deemed to exist; however, the limitations on liability severely reduce the consequences of repudiation where the minor-party is concerned.

There is one narrow exception for "necessities". Also, it is possible for a minor child to enter into a contract, at which time it is voidable, and then for the former child-party to ratify the contract once the former child-party has reached age of majority. It thereafter is enforceable against the former child-party. In seeking to enforce these types of contracts it might be possible to prove a lack of a capacity on the part of a child to understand the consequences of his or her actions or words in entering into a contract, but this would have to be a peculiar or extraordinary situation.