Oregon Service Bureau Distribution Agreement
Description
How to fill out Service Bureau Distribution Agreement?
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FAQ
Contracts are made up of three basic parts ? an offer, an acceptance and consideration. The offer and acceptance are what the purpose of the agreement is between the parties.
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.
Generally, to be legally valid, most contracts must contain two elements: All parties must agree about an offer made by one party and accepted by the other. Something of value must be exchanged for something else of value. This can include goods, cash, services, or a pledge to exchange these items.
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.
Lawful purpose: A valid contract must have a legal purpose that is enforceable in court. Capacity: A party to a contract must have the ability, or legal competence, to enter into a contract.