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There are 3 key principles which make a contract valid.
1. Offer - a good or a service needs to be offered.
2. Acceptance - the buyer must be willing to have what is being offered
3. Consideration - the amount the buyer is willing to give in exchange for the good or service in the offer.
Other secondary principles are often mentioned, such as ability to contact i.e. being of legal age, sound mind etc.
There is no necessity for a contract to be written to make it legal. If the 3 conditions exist, then the contract is legal. However, in cases of potential dispute, it is always easier to have a written copy, signed by all parties confirming the above principles.
What else can I help you with?
What kind of Contract has no separation between legal and illegal parts?
Indivisible
Does a blackberry pearl have a 3 year contract?
no,it has 5 year contract
How long do you have to cancel a contract in Texas?
In the state of Texas, a person has 3 business days to cancel a contract. After 3 days, the contract can't be cancelled without penalties.
How do you cancel a contract for window installation after 3 day period?
Breach of contract
The contract between a patient and a physician has three parts?
the offer, the acceptance and the consideration
What are muscles needed for in the human body?
The muscles contract to move parts of the body
What static exercises are describe when the muscles contract but the body parts do not move?
isometric
What does contractual provisions mean?
When there's a condition in the contract that requires one side to do (or refrain from doing) an action by a certain time, you have a contract provision.
What is the basic definition of contractor jobs?
Contractor who has a contract with the owner of the job, and has the full responsibility for finishing the job. Subcontractor carry out specific parts of the contract.
What benefit should you receive after 3 years for unlimited contract?
It depends what it says in your contract.
What are implied terms of employment?
When you work somewhere you have an agreement with your boss. The express terms of the contract are things you explicitly agreed to when you started working, you likely signed a document. Implied terms are parts of the contract that are assumed parts of the contract that don't have to be written down, such as employment standards or minimum wage, which would be outlined by statute.
How is an outsourcing services contract different from a management contract?
I would have to describe the major parts of each contract for you to identify the difference.The major parts of an outsourcing contract are:Scope of WorkDeliverablesTerms and ConditionsService Level AgreementHowever, if the service involves the IT function of a company, an outsourcing contract would also include Transfer of Assets and Staff and also, Information Security and Confidentiality.On the other hand, a management contract consists a lot more aspect, especially the technical, operations and productions facilities, staff management, training, finance and accounting and marketing.
