Agreement And Its Characteristics

A simple contract is an agreement between two parties. This agreement can be oral or written. There must be an offer, consideration and acceptance to make it dignified or valid. Even if the document is not legally written by a lawyer, it can still judge you in the event of a breach of contract. Judges encourage you to have a simple written contract rather than an oral contract, as it will be difficult to provide evidence of its existence. Violation of the contract: this is the case when a party is late in its part of the contract. If one party does not follow the conditions, the other party may sue for damages. A judge may award compensation to the aggrieved person if sufficient evidence is provided. For example, two people agree on a simple oral contract for one person to remove snow from the other`s route and sidewalk, and the second agrees to pay for it. However, after the snow removal, the other party refuses to pay. They talk to each other and argue.

Now the person who removed the snow is suing the other party, but since it was a simple oral contract, it is much more difficult to prove it to a judge. Counterpart: This is the value that one party gives to another party in exchange for a service or product, often money. This is one of the most important aspects of a treaty and, without regard, people generally do not enter into a binding agreement. Definition: In legal language, the term “agreement” is used as a promise/commitment or as a series of reciprocal promises that represent a consideration for the contracting parties. This means that the parties must agree on the same with respect to their rights and obligations with respect to the performance of past or future promises in the same direction as expected. Violation of contract: this occurs when a party is not part of the agreement. If one party does not comply with the conditions, the other party may sue for damages. With sufficient evidence, a judge can award compensation to the victim. Having a written contract makes dispute resolution much easier; If the situation degenerates into legal action, the terms of the agreement (and what constitutes an offence) are clearly explained.