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(1) An action for breach of any contract for sale must be commenced within four (4) years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one (1) year but may not extend it.

29-113. Release for personal injury. Any agreement entered into by any person within fifteen (15) days after he incurs a personal injury, which may adversely affect his right to be compensated for such injury, may be disavowed by such injured person within one (1) year after the making of the agreement.

An Agreement must be deliberate, or seriously intended, to be enforceable, so that it is understood that in the event of a breach of obligation, the parties could enforce the contract through the courts. In business transactions it is presumed that the parties do intend the agreement to have legal consequences.

For a written agreement to be legally binding, it must contain an acceptance of the contract terms in the document. The most common way to accept is through a signature, although there are other ways. If all parties involved sign the written agreement, this demonstrates clear acceptance of the terms.

Search Idaho Statutes Contracts may be oral. All contracts may be oral except such as are specially required by statute to be in writing.

A contract is an agreement between parties, creating mutual obligations that are enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.

Ing to contract law, an agreement made between two or more people or business entities, in which there is a promise to do something in return for a gain or advantage, is legally binding.

5-216. Action on written contract. Within five (5) years: An action upon any contract, obligation or liability founded upon an instrument in writing.