Contract, as how the business dictionary would define it as, is a voluntary, legally binding, and deliberate document between two or more involving parties, which are usually the buyer and the seller, the hiring manager, and the independent contractor and the like. You can also check out this page’s Sample Agreements for your own convenience.
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The involving parties can also be a business entity or a huge corporation or a group of individuals. Other than that, contracts would usually tackle and cover the subject matters of tenancy, lease, sales, and employment. Also, contracts are essentially written; however, it can also be implied and spoken.
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Needless to say, contracts are actually essential for security purposes since a contract in nature is actually law binding; you would just have to add and specify certain policies that you think is fitting with whatever situation you are involved in, enough to give and provide you with security measures and protection by the law.
And once that certain contract has already been made, you are then covered and also responsible for the written contract that you just agreed to along with your contract partners and some involving parties, if applicable. Furthermore, you can consider to have a look at some examples of Rent Agreement Forms and Non Disclosure Agreement Forms that you may find useful enough toward your journey.
Signing a contract would automatically make you a contractor, and being a responsible and more mature contractor, you would need to know some details and information, and better yet, find some time to read about the main types of contracts and its description or its uses so that you yourself can be able to simply assess and think about which specific contract would fit in and suit into a particular situation that you can also use and apply.
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General and Main Types of Contracts
- Contracts under Seal – this type of contract is traditionally implemented in a way that it would need to have a seal or be stamped with a seal in order for that particular contract to be enforceable; otherwise, it will not be implemented or applied. Although in the past, most contracts were required and must be under a seal so that it would be considered to be valid. Courts recognition and informal contracts, also known as implied contracts, are slowly trying to fade or terminate the significance of applying formal contracts under a seal.
- Express Contracts – this type of format can either be in a written or in an oral manner, although depending on which the certain written or oral contract has been accepted by the certain individual to whom the contract or the offer has been made.
- Implied Contracts – this type of contract agreement is not expressed by parties; instead, according to the legal dictionary, they are suggested from circumstances and facts that would specify human intention to contract.
- Executed and Executory Contracts – an executed contract, as defined by the legal dictionary, is some sort of a fixed contract wherein nothing has to be done by both involving parties alike.
Moreover, you can also check out this page’s Free Lease Agreement Forms that you may use should you ever need them.
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