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Contract
Contract

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!!! Overview
[{$pagename}]
!! [Legal] [{$pagename}]
A [legal] [{$pagename}], at its most basic level, is an agreement that creates an obligation that is enforceable by [law]. This is accomplished by an offeror extending an offer, which in turn, creates the power of acceptance in an offeree. To be legally binding, this exchange must be supported by adequate consideration, or put plainly, a corresponding benefit or detriment to either side of the agreement. Common types of consideration include real or personal property (including money), a return promise, some act, or a forbearance.
!! Basic Concepts in [{$pagename}] [Law]
[{$pagename}] [Law] within the [United States] is covered by [Uniform Commercial Code] [UCC] § [PART 2. FORM, FORMATION AND READJUSTMENT OF CONTRACT|https://www.law.cornell.edu/ucc/2/part_2|target='_blank']
There are three main activities required to enter into a contract:
* agreement implies mutual [consent]
* intention to create a legally binding agreement;
* consideration (‘something of value’ which is given for a promise and is required in order to make the promise enforceable as a contract) in both directions.
!! Agreement
!! Consideration
!! More Information
There might be more information for this subject on one of the following:
[{ReferringPagesPlugin before='*' after='\n' }]
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* [#1] - [idimmusings.com|https://idimmusings.com/2018/10/31/kantara-initiative-work-groups-on-data-sharing-and-consent/|target='_blank'] - based on information obtained 2018-11-01-
* [#2] - [BASIC PRINCIPLES OF ENGLISH CONTRACT LAW|http://www.a4id.org/wp-content/uploads/2016/10/A4ID-english-contract-law-at-a-glance.pdf|target='_blank'] - based on information obtained 2018-11-01-
This page (revision-1) was last changed on 29-Nov-2024 16:16 by UnknownAuthorTop