Ads
related to: writing contracts agreementlawdepot.com has been visited by 100K+ users in the past month
Search results
Results From The WOW.Com Content Network
A bilateral contract is an agreement in which each of the parties to the contract makes a promise or set of promises to each other. [32] For example, in a contract for the sale of a home, the buyer promises to pay the seller $200,000 in exchange for the seller's promise to deliver title to the property.
Contract law regulates the obligations established by agreement, whether express or implied, between private parties in the United States. The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law.
Provided that an oral contract satisfies any requirements imposed by law, such a requirement that contracts for a specific type of transaction be in writing, it is legally enforceable. [1] [2] For example, in 1984, Getty Oil was sold to Pennzoil in a handshake deal, a lay term for an oral contract, which was binding under New York law.
Merger and acquisition agreements, [1] joint venture agreements, real property lease agreements and several other categories of agreements often make use of a letter of intent. The capitalized form Letter of Intent may be used in legal writing, but only when referring to a specific document under discussion.
Writing Requirement – Unless otherwise specified by a ratifying State, the CISG does not require that a sales contract be reduced to a writing. Under the UCC's statute of frauds (inherited from the common law), contracts selling goods for a price of $500 or more are generally not enforceable unless in writing.
Barone says the team is now moving to digitize its 200 user agreement contracts much sooner than anticipated. “There's real value in saving time when it comes to legal operations.
Ads
related to: writing contracts agreement