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Bookmark or Share- Legally Binding Documents: What You Need to Know | Axiom LawA legally binding document must cover a specific matter or topic. The subject should be clearly and unambiguously defined within the document to ensure that all parties understand what is being agreed upon. Examples of subjects typically covered in legally binding commercial contracts and agreements include: Real Estate Purchase Agreement
- contract | Wex | US Law | LII / Legal Information InstituteA contract is an agreement between parties, creating mutual obligations that are enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent , expressed by a valid offer and acceptance; adequate consideration ; capacity; and legality.
- Binding Contract: What Makes a Contract Legally Binding?A contract is a legally binding document between two or more parties which defines and governs the rights, duties and responsibilities of all parties involved in an agreement. It becomes legally binding when all parties sign on to the agreement. It can involve an exchange of goods or services and will provide legal remedies to either party that ...
- Legally Binding Contracts: Everything You Need to Know - UpCounselLegally binding contracts are agreements made between two or more parties that are enforceable by law and are valid according to federal and state contract laws. Because a contract is legally binding, all parties must follow the terms and do what the contract says they should. There are many ways a legally binding contract can be created.
- What Makes a Contract Legally Binding? Guide | SignaturelyTo summarize, a legally binding contract consists of the following elements: offer, acceptance, consideration, capacity, and intent. Other considerations include the legality of the terms and the absence of fraud. A legally binding contract does not need to be drafted by a lawyer or be long or filled with legal jargon.
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