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A contract is a legal agreement between two or more parties in which they agree to each other's rights and responsibilities. Offer, acceptance, awareness, consideration, and capacity are the five elements of an enforceable contract.
?Terms and Conditions? is the document governing the contractual relationship between the provider of a service and its user. On the web, this document is often also called ?Terms of Service? (ToS), ?Terms of Use?, EULA (?End-User License Agreement?), ?General Conditions? or ?Legal Notes?.
To cancel the contract, you must notify the seller in writing no later than midnight of the third business day after you signed the contract. The seller must return your payment within ten business days after receipt of your cancellation notice.
For a contract ? including an oral contract ? to be valid, it must have the 3 essential elements of an enforceable agreement: An offer, An acceptance of that offer, and. Consideration.
There are four essential elements of forming a contract: offer, acceptance, consideration, and intention to create legal relations. Beyond this, the terms of the contract must also be unambiguous, and the parties must have the mental capacity to agree.
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.
Some common ways parties may be in breach are: Non-payment for goods or services rendered. Defective work performed by an obligated party or defective goods sold. Failure to provide goods or services in a timely manner.
When is the cooling-off period allowed? Door-to-Door Sales: If you make a purchase for over $25 at a place other than a merchant's usual place of business, Massachusetts and federal law allows you three days to cancel and get your money back.