North Carolina General Agreement

State:
Multi-State
Control #:
US-EG-9454
Format:
Word; 
Rich Text
Instant download

Description

General Agreement between Choice One Communications, Inc. and Lucent Technologies, Inc. regarding supply and procurement of products and services dated September 30, 1998. 69 pages.
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FAQ

In North Carolina, a Statute of Frauds requires that all contracts or agreements to sell or convey land or any interest in or concerning land, including easements, options to purchase, rights of first refusal, and certain leases, must be in writing and signed by any party against whom enforcement is sought.

North Carolina General Statutes 47G-1 through 47G-7 govern the rent-to-own, or ?option contract? law. There are minimum contract requirements that must be present before the rent-to-own lease agreement is considered valid.

For contract formation, the offer and acceptance are essential terms. The offer and acceptance form the agreement between the parties. The offer must be communicated, it must be complete and the offer must be accepted in its exact terms. Mutuality of agreement is a must.

Breach of contract happens when one party to a valid contract fails to fulfill their side of the agreement. If a party doesn't do what the contract says they must do, the other party can sue.

Statute of Frauds: A statute which requires certain types of contracts to be in writing in order to be enforceable.

In order to establish breach of contract, a plaintiff must establish: 1) a valid and enforceable contract; 2) performance by the plaintiff; 3) breach by the defendant; and 4) injury arising as a result of defendant's breach.

Which contracts or agreements are required to be in writing? The sale of land, or a home, or an interest in land. ... Goods or services being sold for more than $500.00 (this amount may vary from state to state). Contracts that may last more than one year. ... Agreements to take on another person or business's debt.

In these instances, the seller is usually required to notify you of your right to cancel in the contract. Where there is a right to cancel, the cancellation periods are short, typically three days, and they begin from the day you sign a purchase agreement or complete the transaction.

Is an oral contract enforceable? In North Carolina, an oral contract is enforceable except in limited situations governed by the statute of frauds.

The relevant criteria are: There is a legally binding contract. ... The other party has failed to perform their duties under the contract. ... You have suffered loss as a result of the breach. ... The breach occurred within the last 6 years. ... Collating and preserving evidence. ... Reserving your rights. ... Taking legal advice.

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North Carolina General Agreement