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When Can You Terminate a Contract without Being Liable for Breach?

February 1, 2023 by Sandra Ighalo

When Can You Terminate a Contract without Being Liable for Breach

When Can You Legally Refuse to Perform under the Terms of an Agreement? When you enter into a contract, you make a legally enforceable promise to abide by the terms of that agreement. Typically, when you fail to perform as promised, you can be taken ...

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Filed Under: Business Contracts Tagged With: When Can You Terminate a Contract without Being Liable for Breach?

The Requirement that You Voluntarily Enter into a Contract

January 4, 2023 by Sandra Ighalo

The Requirement that You Voluntarily Enter into a Contract

When Can You Argue that You Didn't Agree of Your Own Free Will and Knowledge Under long-established law, one of the requirements for a contract to be valid and enforceable is that all parties must have voluntarily entered into the agreement. What ...

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Filed Under: Business Contracts Tagged With: The Requirement that You Voluntarily Enter into a Contract

Wishing You And Yours A Merry Christmas & Happy New Year

December 24, 2022 by Sandra Ighalo

Wishing You And Yours A Merry Christmas & Happy New Year

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How Does Your Age Affect the Validity of a Contract?

December 7, 2022 by Sandra Ighalo

How Does Your Age Affect the Validity of a Contract?

Can You Be Too Young or Too Old to Enter into an Enforceable Agreement? In earlier articles, we documented the requirements of a valid and enforceable contract, including the condition that the parties must have legal capacity. We further explained ...

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Filed Under: Business Contracts, Business Law Tagged With: How Does Your Age Affect the Validity of a Contract?

Happy Thanksgiving

November 22, 2022 by Sandra Ighalo

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The Impact of a Mistake on the Validity of a Contract

November 10, 2022 by Sandra Ighalo

The Impact of a Mistake on the Validity of a Contract

Will the Contract Still Be Enforceable If Either Party Relies on a Mistake? One of the requirements of a valid and enforceable contract is that there must be an agreement. That has commonly been construed to mean that there must be at least two ...

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Filed Under: Business Contracts Tagged With: The Impact of a Mistake on the Validity of a Contract

Happy Halloween!

October 31, 2022 by Sandra Ighalo

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Filed Under: Uncategorized

When Will a Party to a Contract Lack Legal Capacity?

October 6, 2022 by Sandra Ighalo

What Situations Involve a Potential Lack of Contractual Capacity? For a contract to be binding and enforceable, the parties to that contract must both have what is known as "contractual capacity." What does that mean? When might a person fail to ...

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Filed Under: Business Contracts Tagged With: When Will a Party to a Contract Lack Legal Capacity?

Business Contracts—When Do You Have Acceptance of an Offer?

September 7, 2022 by Sandra Ighalo

When Is an Acceptance Really a Counteroffer? What Is the Mailbox Rule? Does It Still Apply? The first requirement of a valid and enforceable contract is that there must be an agreement. To constitute an agreement, the exchange between the parties ...

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Filed Under: Business Contracts Tagged With: Business Contracts—When Do You Have Acceptance of an Offer?

Business Contracts—What Is an Offer?

August 3, 2022 by Sandra Ighalo

Business Contracts—What Is an Offer

What Must an Offer Contain? When Is an Offer Not an Offer? One of the basic requirements of a valid and enforceable contract is an "agreement." Under contract law, an agreement requires an "offer" and acceptance of that offer. In business, though, ...

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Filed Under: Business Contracts Tagged With: Business Contracts—What Is an Offer?

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