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Simple contract. In contract law, [1] a simple contract is a contract made orally or in writing or both of them rather than a contract made under seal. [2] Simple contracts require consideration to be valid, [3] but simple contracts may be implied from the conduct of parties bound by the contract. [4] William Blackstone observed in his ...
Contract law. A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent [1] to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract ...
A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
Construction contract. A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors. The owner, often referred to as the 'employer' or the 'client', [1] has full authority to ...
A memorandum of understanding (MoU) is a type of agreement between two (bilateral) or more (multilateral) parties. It expresses a convergence of will between the parties, indicating an intended common line of action. [1] It is often used either in cases where parties do not imply a legal commitment or in situations where the parties cannot ...
Loan agreements are documented via a compilation of the various mutual promises made by the involved parties. [ 2 ] [ 3 ] Prior to entering into a commercial loan agreement, the "borrower" first makes representations about his affairs surrounding his character, creditworthiness, cashflow, and any collateral that he may have available to pledge ...
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