How An Agreement Is Formed Between 2 Parties?

 

Isaac Pollak LGP ltd, Isaac Pollak, Isaac Pollak 10 west 46st

For an agreement to be legal and valid, there are certain criteria that must be achieved. Moreover, there are many different types of contracts and agreements. For example, an agreement made on the basis of promise in exchange of performance is unilateral. Other one can be called as bilateral which is promise made in exchange of another promise. A contract can be oral and a written too.

 

However, the oral contract or an agreement can not be enforced legally. Some agreements need to be written when exceeding value of 500 dollars usually.

 

In order to call an agreement or a contract to be valid and authentic there are elements that needs ro be followed. Check out those elements mentioned bellow.

 

There should be an offer from somebody and which needs to be accepted by other one.

 

Regarding subject, matter of offer and its terms, there should be a mutual acceptance by the both party on same ground.

 

There must be mutual agreement by both parties to come under a contract, one cannot enforce somebody to sign a contract with them.

 

There must be some kind of exchange of some value of money, profit or loss for the services provided in exchange.

 

If a party doesn’t fulfil the agreement, the other party can fill a lawsuit against them and claim their losses in the court. Check the link given and study about the law suit running against Isaac Pollak 10 west 46st.

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