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A contingent contract is an agreement that states which actions under certain conditions will result in specific outcomes. [1] Contingent contracts usually occur when negotiating parties fail to reach an agreement. The contract is characterized as "contingent" because the terms are not final and are based on certain events or conditions ...
2. A performance or return promise is bargained for if it is sought by the promisor in exchange for his promise and is given by the promisee in exchange for that promise. 3. The performance may consist of an act other than a promise, or a forbearance, or the creation, modification, or destruction of a legal relation. [1]
whether terms are implied into the contract; what controls are placed on unfair terms; The terms of a contract are the essence of a contract, and tell the reader what the contract will do. For instance, the price of a good, the time of its promised delivery and the description of the good will all be terms of the contract.
Consideration can be anything of value (such as any goods, money, services, or promises of any of these), which each party gives as a quid pro quo to support their side of the bargain. Mutual promises constitute consideration for each other. [a] If only one party offers consideration, the agreement is a "bare promise" and is unenforceable.
In contract law, a forum selection clause (sometimes called a dispute resolution clause, choice of court clause, governing law clause, jurisdiction clause or an arbitration clause, depending on its form) in a contract with a conflict of laws element allows the parties to agree that any disputes relating to that contract will be resolved in a specific forum.
Contract signings were up just over 1% year over year, but were still 25% lower than those recorded in December 2019. ... Pending sales in the South jumped 12% in December, rising 1.5% from the ...
A contract may consist of mutual undertakings, as in the example just given, where A agreed to deliver a car and B agrees to pay for it. Such contracts are known as bilateral contracts. But a contract may only give rise to an undertaking by one party, as where A agrees to pay B if B finds a particular car which A has been trying to acquire.
Simple, safe and just about everywhere, Venmo now boasts more than 83 million active users, according to Moneyzine. Of this large group, more than one in three are between 18 and 29 years old....