In order to have a valid contract in North Carolina, there must be an offer, an acceptance, along with consideration. The parties must also have the capacity to enter into the contract.
As a general rule, a contract is binding as soon as you sign it, and you do not have the right to cancel the contract. However, in some instances, North Carolina law, and sometimes federal law, gives you the right to cancel certain transactions even after you have signed a contract or agreement.
Standard offer means Bundled Service offered by the Affected Utility or Utility Distribution Company to all consumers in the Affected Utility's or Utility Distribution Company's service territory at regulated rates including metering, meter reading, billing, collection services and other consumer information services.
FACTORING IN A CONTINUING AGREEMENT - It is an arrangement where a financing entity purchases all of the accounts receivable of a certain entity.