Contract Law

Government Contracting Activity (GCA)

All 27 amendments of the U.S. Constitution are considered the "Supreme Laws".

A contract is an agreement between parties that is legally enforceable. A simple "agreement" is an arrangement between the parties which may or may not contain the necessary elements to be enforceable before a court of law.

In Simple Words:

A Contract is enforceable by law while an Agreement is not enforceable by law.

A valid contract must contain the ten valid elements which are:

· Offer and Acceptance

· Intention to Create Legal Relations

· Lawful Consideration

. Capacity of Parties

· Free Consent

. Lawful Object

· Writing and Registration

· Certainty

· Possibility of Performance

. Not Expressly Declared Void

Generally not. Such a simple error would be considered a scrivener's error, and not be grounds to void the agreement (in most states). Some states have statutes of frauds which require that certain information be correct regardless of any theories of error. See the Related Links below.

1. Tenant Agrees to pay rent in the amount of $350.00 on the 15th day of every month.
1.1 If Tenant fails to pay the entire monthly rent by the 20th day of every month, they shall be charged a late fee of $10.
1.2 Tenants who fail to pay their entire monthly rent or late fees for two consecutive months may be subject to eviction proceedings at the landlords desire.

void contracts are contracts that technically don't exist mainly due to duress while an unenforceable contracts are contracts that can not be enforced

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Limit of retention is the maximum amount that can be retained in the construction contract. Suppose the retention % is 5% and limit of retention is 10%. On a contract value of Rs100.00. The first claim amounts to Rs20.00. Retention is Rs1.00 and net payment is Rs 19.00

Capacity plays a crucial role in the validity of a contract. It refers to the legal ability of individuals to enter into a binding agreement. The importance of capacity in a valid contract can be understood through the following points:

Legal protection: Capacity ensures that individuals have the necessary mental competence to understand the terms and implications of a contract. It protects vulnerable parties, such as minors or individuals with mental disabilities, from being taken advantage of or entering into agreements that they may not fully comprehend.

Voluntary consent: Capacity ensures that the consent given by the parties to a contract is freely given and without any undue influence or coercion. Parties with full capacity have the ability to make informed decisions and understand the consequences of their actions, which promotes fair and voluntary agreements.

Enforceability: Contracts entered into by parties lacking the required capacity may be considered void or voidable. This means that the affected party can choose to have the contract declared unenforceable, potentially resulting in the contract being set aside or terminated. Capacity ensures that contracts are legally enforceable and hold parties accountable for their obligations.

Public policy considerations: Capacity requirements in contracts are based on public policy considerations to maintain order, protect individuals, and uphold the integrity of the legal system. These requirements help maintain fairness, prevent exploitation, and safeguard the interests of all parties involved.

Protection of third parties: Capacity not only protects the contracting parties but also third parties who may be affected by the contract. For example, if a person lacks the capacity to enter into a contract, a third party dealing with that individual can rely on the capacity requirement to ensure the validity of the agreement.

In summary, capacity is vital in a valid contract as it ensures legal protection, voluntary consent, enforceability, consideration of public policy, and the protection of both parties and third parties involved. It promotes fairness, transparency, and the integrity of contractual relationships.

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A contract is more than an agreement. It has to meet certain criteria before it can be considered a contract.

A contract would have to have offer, acceptance, consideration and intention to create legal relations.

An agreement can be between family members, friends. This would not be legally binding as there would most probably not be any intention for legal relations.

Child support does not begin until the child is born and paternity is established.

In Kansas, support has to begin during the pregnancy.

The law of contract is that branch of law which determines the circumstances

in which promise made by the parties to a contract shall be legally binding on them. All of us

enter into a number of contracts everyday knowingly or unknowingly. Each contract creates

some right and duties upon the contracting parties. Indian contract deals with the

enforcement of these rights and duties upon the parties. Indian Contract Act, 1872 came

into effect from 1

st

September, 1872. It extends to the whole of India except the state of

Jammu and Kashmir.

CONTRACT [SECTION 2(h)]: A contract is "an agreement enforceable by law". Thus,

CONTRACT = AGREEMENT (+) ENFORCEABILITY BY LAW

"All contracts are agreements but all agreements are not contracts"

AGREEMENT [SECTION 2(e)]: An agreement means, "Every promise or every set of promises,

forming consideration for each other".

AGREEMENT = PROMISE(S) BY ONE PARTY (+) PROMISE(S) BY THE OTHER

PARTY

PROMISE [SECTION 2(b)]: "When the person to whom the proposal is made signifies his

assent thereto, the proposal is said to be accepted. A proposal when accepted becomes a

promise."

PROMISE = PROPOSAL + ACCEPTANCE

PROPOSAL/OFFER [SECTION 2(a)]: A person is said to make a proposal when "he signifies to

another his willingness to do or to abstain from doing anything with a view to obtaining

assent of that other to such act or abstinence"

PROPOSAL = WILLINGNESS TO DO OR ABSTAIN FROM DOING

(+) WILLINGNESS' TO OBTAIN ASSENT OF THE OTHER PARTY TO

SUCH ACT OR ABSTINENC

CONSIDERATION [SECTION 2(d)]: "When, at the desire of the promisor, the promise or any

other person has done or abstained from doing, or does or abstains from doing or promises to

do or to abstain from doing something, such cat or abstinence is called consideration". In

other words, consideration is something in return.

It all depends on what the contract has stated. Review your contract and try looking for: (refunds, Deposits and incomplete work)

Most of the time they keep your deposit, but until they finish everything that has been stated in the contract, you don't have to pay fully. *Sometimes they can charge you for the amount of work that has been done.

But in the end it all depends on what you've signed on, the contract.

The minor can void the contract. If they affirm it after they become an adult, it would become valid.

Limitation of Liability and Indemnification both address possible liabilities under an agreement but are distinct in purpose. Limitation of liability addresses the liability between the actual parties to the contract and does not govern liabilities that may arise from third party claims that are not a party to the contract. For instance, a party to a contract may only be allowed to pursue direct damages but since the third party is not a party to the contract, the limitation or disclaimer of indirect damages does not apply to that party and they can submit a claim for whatever damages/remedies may be available under law. That's where an indemnity comes in ....

Indemnification in a contract sets forth the contracting parties obligations to each other in the event a third party sues or is awarded damages or a party incurs cost to defend itself because of the actions or inaction of the other party to the contract. Indemnification clauses can be very nuanced from standards of negligence to obligations to pay costs vs. awards, atty. fees, and who controls the defense, etc.

Depending on how the limitation of liability is drafted, Indemnification and Limitation of Liability may overlap to the extent a liability arising from a 3rd party could be claimed as a damage under the limitation of liability provision (i.e. incidental, consequential, etc.). However, the indemnification clause is used so that there's no ambiguity or selective interpretation as to who's responsible or what type damage it may be.

First you should look for any right of rescission in the contract. That right is generally found only in home equity mortgage contracts and contracts signed at your home and you must cancel the contract within the time period allowed. Otherwise you will need to prove that you were under duress in a court of law by providing proof of the duress.

Duress in law is not taken lightly. The claimant must prove coercion beyond what would be considered reasonable persuasion whereby a person performs an act as a result of violence, threat or other extreme pressure against the person.

Yes. Courts do not enforce Contracts on Minors. If a minor enters into a contract then such contract is voidable.

Rights that are written out.

An verbal agreement is something two or more parties have agreed to do, agreed not to do or an arrangement made verbally and not in writing.

In some jurisdictions a verbal agreement can be binding if there are truthworthy witesses to it, in other jurisdictions it may not be binding.