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 ...
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 ...
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 ...
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 ...
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, ...
When Must a Business Contract Be in Writing to Be Valid?
In business, it's common for most communications to be verbal—on the phone or even in person. Suppose you have a conversation with a customer, supplier or potential partner and you come to a ...
Does Every Business Need It? What Does It Cover?
When you own and operate your own business, one of your greatest concerns is protecting your investment. While setting your business up as a corporation or limited liability company can safeguard your ...