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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
NOTE: THIS IS NOT LEGAL ADVICE IN ANY WAY SHAPE OR FORM THIS IS JUST AN OPINION FROM SOMEONE WITH LIMITED LEGAL TRAINING WHO IS NOT AND IS NOT REPRESENTING HIMSELF AS A LAWYER OR AS A KNOWLEDGEBLE SOURCE.
Double check your contract for this clause if it is in there they may keep it because the contract is still valid even if financing is wrong.
"If a court should find that one or more provisions contained in these Terms is invalid, you agree that the remainder of the Terms shall be enforceable."
How long is a notarized document valid in the Philippines?
A notarized document never expires. It is always a valid document.
please visit
www.IllinoisAttorneyGeneral.gov
No Three-Day Right to Cancel
Dealers are not required by law to give car buyers a three-day right to cancel.
The right to return the car in a few days for a refund exists only if financing is not approved. However, some dealers may, by contract, offer a right to cancel.
If you're not in Illinois, you might want to check with the Attorney General's office in your state?
Al Brown
Chicago
you have 3 days to change your mind or reconsider their offer of a contract or cancel a contract after that you are legally bound to the contract..take it in writing to the dealer and keep a copy i believe according to the law that governs contracts you have 3 days to change your mind..but the dealership isn't going to tell you that and they will tell you you cant get out of it but you can if unsure call the free legal assistance hot line you can get that number thru your local welfare agency...good luck
Which act prohibit Contracts or contracts that prevent or inhibit competition?
In the USA, there are several Acts like that, including the Sherman Act, categorized under "anti-trust". In other countries it may be called "anti-competition law".
Is a contract breached if one party gets arrested?
If the contract states that getting arrested is a breach, yes. Or if getting arrested prevents the arrested party from performing its contractual obligations the inability to perform may be a breach. Or if you consider an employment contract, the arrest of an employee for a position of trust may be an implied breach, but it may be unfair to terminate (as opposed to suspend) unless the arrest actually led to a conviction.
Is a contract still valid if witnessed by a family member?
No witness is required for a contract. It only helps validate the agreement.
What do you mean by unenforceable contracts cannot be assailed by third persons?
The meaning of 'unenforceable contracts cannot be assailed by third persons' means that a third person cannot profit from a contract that was null and void in the first place. A contract can be considered null and void if it allows for a criminal act, or one party to the contract is a minor. This also means that a third person cannot sue an adult if their child enters into a contract.
What is a Cost-Plus-Percentage of Cost Contract?
Based on the ISM C.P.M. Study Guide, 6th edition: Listed under cost Reimbursable contracts. Cost plus percentage of cost is the most undesirable form for the purchaser, as it provides no incentive to control costs. Indeed, higher costs lead to higher profits for the supplier. In fact, Most public sector purchasing does not permit this practice.
Can an illiterate be responsible for signing a fraudalent contract?
Yes, provided you are capable of making your "mark".
What are the presumptions of legal intentions?
The phrase "legal intentions" arises most frequently in connection with contract law. One's legal intentions are those intentions that a reasonable person would attribute to him on the basis of his words and behavior. Suppose Party A stands sits on the hood of an automobile and says to a passerby, Party B, "My car is for sale. You may buy it for $400." Party B says, "I'll take it..." He draws $400 from his wallet and tenders it to Party A.
Party A then explains, truthfully, that her car is located 50 mile away in her own driveway. The car on which she is sitting, she explains, is not hers and it is not the one she intended to sell.
By law, Party A offered to sell the car on which she was sitting, for that was her "legal intention." Under these circumstances, Party B as a reasonable person would conclude, that in saying "my car.." Party A meant to designate the car on which she was sitting and that, consequently, was her "legal intention." When Party B accepted her offer the two parties formed a contract for the purchase and sale of that car for $400.
Party A cannot, of course, sell a car she does not own. Nonetheless she formed a contract to do so and Party B has an action against her for breach. He is entitled to collect damages (equal to [fair market value of the car minus $400].
A job application is not a contract. If he hired you based on your availability to work than he knew before hand of the extra hours. No one can force anyone to do something they dont want to do. It is illegal and against the law to force someone to work more hours than what they were hired for. If you work 40 hours a week and he forces you to work more, I would highly suggest to call the labor board.
I am not an attorney or an accountant or even a licensed real estate agent, but I do sell my own land in Texas. This is offered as information only and not professional advice. You should consult an attorney or accountant who can offer you counsel based on all the specifics of your situation.
In my limited experience in Texas, the deed-holding property owner is responsible for taxes on the property. If you purchase property under a contract for deed, you may or may not be able to claim the taxes as a deduction. It depends on your contract or other written agreements. If the property owner escrows money for taxes and pays them on your behalf, then you probably get the deduction. If it is not specified, then the property owner may be taking the deduction. SB198, which was effective Sept. 1, 2001, requires that the property owner send you an annual statement each year before January 31st. This statement should indicate “the amounts paid to taxing authorities on the purchaser’s behalf if collected by the seller.” If the amount is “0,” then the property owner is most probably paying and taking the deduction for taxes. You should ask them. Preferably in writing. Be sure to keep a copy for documentation.
P.S. You can contact the local appraisal district to find out if there are delinquent taxes on the property. If the property owner is not paying the taxes, you could have problems.
I am not an attorney or an accountant or even a licensed real estate agent, but I do sell my own land in Texas. This is offered as information only and not professional advice. You should consult an attorney or accountant who can offer you counsel based on all the specifics of your situation.
In my limited experience in Texas, the deed-holding property owner is responsible for taxes on the property. If you purchase property under a contract for deed, you may or may not be able to claim the taxes as a deduction. It depends on your contract or other written agreements. If the property owner escrows money for taxes and pays them on your behalf, then you probably get the deduction. If it is not specified, then the property owner may be taking the deduction. SB198, which was effective Sept. 1, 2001, requires that the property owner send you an annual statement each year before January 31st. This statement should indicate “the amounts paid to taxing authorities on the purchaser’s behalf if collected by the seller.” If the amount is “0,” then the property owner is most probably paying and taking the deduction for taxes. You should ask them. Preferably in writing. Be sure to keep a copy for documentation.
P.S. You can contact the local appraisal district to find out if there are delinquent taxes on the property. If the property owner is not paying the taxes, you could have problems.
What is contract implementation?
Contract implementation is the process of setting things up to provide contracted services. In many cases there is a time period to obtain the appropriate people or tool the machines to make something.
What is a new offer where the terms of an original offer are changed?
You may be thinking of a counter offer.
What are the rules governing a valid acceptance?
Legal rules of acceptance
i) Acceptance must be given only by the person to whom the offer is made: An offer can
be accepted only by the person or persons to whom it is made and with whom it imports
an intention to contract. It cannot be accepted by another person without the consent of
the offer. The rule of law is if you propose to make a contract with them B can't
substitute himself for A without your consent. An offer made to a particular person can
be validly accepted by him alone.
ii) Acceptance must be absolute and unqualified: In order to be effective, it must be
absolute and unqualified acceptance of all the terms of the offer. Even the slightest
deviation from the terms of the offer makes the acceptance. In effect a derivate
acceptance is regarded as a counter offer in law. E.g. L offered to M his scooter for Rs.
4000 M accepted the offer and tendered Rs. 3900 cash down, promising to pay the
balance of Rs. 100 by the evening. There is no contract, so the acceptance was not
absolute and unqualified.
iii) It should be in a reasonable mode: Unless the proposal prescribes the manner in
which it is to be accepted. If the offeror prescribes no mode of acceptance the
acceptances must be communicated according to some usual and reasonable mode.
The usual modes of communication are by spoken or written or by conduct, it is called
an implied acceptance. E.g. If the offeror prescribes acceptance by telegram and the
offered sends acceptance through a messenger, there is no acceptance of the offer.
iv) Acceptance must be communicated by the acceptor: for an acceptance to the
made it should to be made by the offer but also be communicated by, or will the authority
of offered to the offeror.
v) Acceptance must be given within a reasonable time and before the offer lapses:
Acceptance must be given within the specified time limit , if any and if no time is
stipulated, acceptance must be given within a reasonable time because an coffer cannot be kept open indefinitely.
vi) Acceptance must succeed the offer: Acceptance must be given after receiving the
offer. It should not precede the offer. In a company share were allotted to a person who
had not applied for them subsequently he applied for shares living unaware of the
previous allotment. It was held that the allotment of shares previous to the application
was invalid.
vii) Rejected offer can be accepted only, if renewal: offer once rejected can't be
accepted again unless a fresh offer is made.
Measures passed when both houses must act jointly but for which a law is not needed?
Concurrent resolutions
What are the features of negotiable instrument?
A negotiable instrument is capable of being transferred by delivery or indorsement when the transferee takes the instrument for value, in good faith, and without notice of conflicting title claims or defenses. A negotiable instrument could be a check made out to another person, because that person could endorse it for payment or transfer it to someone else as payment to them.
