Essay about Contract Agreement For A Contract

Essay about Contract Agreement For A Contract

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A contract is a written or spoken agreement, especially one about employment, sales, or real estate, which is intended to be enforceable by law. In order to form a legally binding contract the general requirements of a contract must be present, for example there must have been an offer, acceptance and an intention to form a legally binding contract. Without all of these elements a contract will not be legally binding. If all these elements are in place a contract will be legally binding, however, the law presumes that certain people do not have the power to enter into a contract, as is the case with Nancy.
A contract entered into with a minor is voidable. This means that a minor is able to cancel any contract at any time prior to reaching the age of majority and for a reasonable time afterwards. A minor can only avoid a contract during his minority status and only for a reasonable time after he reaches the age of majority. After a reasonable period of time, the contract is deemed to be ratified and cannot be avoided.
Nancy was a minor when she entered into contract with Donn...

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Contract Agreement For A Contract Essay

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