Employer contracts with an independent contractor to install or service and repair pumps as specified in the contract. Please note that this Agreement is intended for general use. Your state law may require that additional or different provisions be included for agreements between a homeowner and a contractor for work on the home. In this instance, please consult your local law, local government or legal counsel.
Repair Services Contract Without Consideration
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Multi-State
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US-INDC-163
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Word;
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Following are some of the scenarios where there is no valid consideration involved: When a party promises to perform something he or she was already legally bound to perform. For example, when a policeman promises to catch the thief.
The Indian Contract Act of 1872 states that for any contract to be legally binding, consideration should be provided. An agreement without consideration is not considered valid.
Definition. Consideration under contract law is defined as a bargained for exchange of value between parties of a contract. Without consideration, a contract cannot be enforced or is otherwise voidable (with only a very few exceptions).
The idea of consideration is vital to contract law because, in order for a contract to be enforceable, there must be mutuality of obligation. In other words, in order for a contract to be valid, both parties to the contract must be required to perform under the contract.
If there is no consideration for one or more parties, then it casts a shadow over the legitimacy of the contract. In other words, each party should be able to answer the question of why they entered into the agreement.
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Consideration is the value that induces the parties to enter into the contract. Consideration That which is given or received in a contract.(4) "Maintenance agreement" means a contract of limited duration that provides for scheduled maintenance only and does not include repair or replacement. Generally we think of money. But, consideration does not need to be monetary.