Illinois Letter agreement
Description
How to fill out Letter Agreement?
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FAQ
The Illinois employment contract is drafted to concretely unify an employer and its employee or contractor. The agreement outlines the hiree's new position as well as the income (hourly/salary), and possibly also the benefits (PTO, 401k, health insurance, company equity, etc.).
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. In some states, elements of consideration can be satisfied by a valid substitute.
Under Illinois law, there are four elements to a breach of contract claim: (1) the existence of a valid and enforceable contract; (2) performance by the plaintiff; (3) breach of contract by the defendant; and (4) resultant injury to the plaintiff.
In Illinois, the elements necessary for a valid contract are: ? An offer. An acceptance. Consideration. Ascertainable Material terms.
These are the three elements of a contract: (1) offer; (2) acceptance; and (3) consideration. For something to legally be considered a contract, not only must the parties have a meeting of the minds as to what is being agreed upon, but there must also be ?consideration? involved.
In Illinois, contracts can be verbal or written down. However, the best option is to have a written contract. Without a written contract, it could cause potential problems if the legal route is taken to acquire compensation for damages.
