A contract is an arrangement between two or more parties who come into agreement about certain terms and conditions, whether it be about business or employment. It serves as proof that this certain transaction took place and all the parties who are involved are well aware of and that clearly understand what the contract is all about.
If a contract is proven to be legal, where it has complied with the needed requirements and followed the appropriate procedure to be legalized, it can bind all of the parties involved in it. Once a party is bound to a contract, they are obliged to follow it or they would face the corresponding consequences. These consequences may be in the form of hefty fines or even lawsuits.
Contracts are created in a way that is advantageous for all the parties involved in it. This helps build a trusting and long-lasting relationship between businessmen, and between employers and employees. There are just a lot of uses of a contract. Some of the contract examples being used today are employment contracts, business contracts, confidentiality agreement contracts, and land sales contracts.
With a lot of uses, who would not need a contract? That is why in this article are 10+ contract samples in PDF that you can download for free. These samples include a variety of the different contracts that are being used to this date. You can view and download each sample as you please. You can also use them as reference if you are creating your own. Download them now!
Sample Non-Disclosure Agreement Contract
Business Consultant Agreement Contract
Sample Partnership Agreement Contract
What Is the Difference between an Agreement and a Contract?
We all know that a contract is an agreement between two or more parties. This leads us to believe that they are the same and that they mean the same thing. Well, we got it all wrong. A contract and an agreement might seem the same, but they are definitely not.
A contract is a formal arrangement between two or more parties that is enforceable in the court of law. This means that whoever is bound by the contract is obliged to follow its terms and conditions. A contract is legally binding, that is why any violation or breach in the contract will lead to legal consequences, like lawsuits or compensation for damages. Careful consideration should be taken before one gets involved in a contract.
Just like a contract, an agreement is also an arrangement between two or more parties, which is usually about a particular thing. The distinct characteristic of an agreement that makes it different from a contract is that it is not enforceable by law. An agreement does not need to be in writing of any form and does not require any elements to be deemed as something legal.
Business Contract Template
Exclusive Management Agreement Contract
Construction Contract Template
Purchase and Sell Contract
Types of Contracts
There are many different types of contracts and one type just provides other subtypes. There would be a lot to remember. Let’s look into the bright side. There are actually eight main types of contracts that you should know, namely bilateral contracts, unilateral contracts, express contracts, implied contracts, void contracts, voidable contracts, simple contracts, and formal contracts.
- Bilateral Contracts – In this type of contract, both parties involved promise to do certain things. This means that one party promises to do a particular act in exchange for the other party’s promise to also do a particular act. An example of a bilateral contract would be a seller’s promise to sell the product only to that specific individual and the that individual’s promise to buy the said product.
- Unilateral Contracts – While a bilateral contract focuses more on each party’s promises, in a unilateral contract, one party demands for the other party to perform a certain duty. To help you understand this further, here is an example. A monetary reward is offered to whoever can provide leads to a dog who has been missing. Whoever finds the dog may or may not return it as they are not obliged to do so and it is also not enforceable by the law. But come to think of it, if they return the dog, they will get the monetary reward.
- Express Contracts – This type of contract can be done either verbally or in writing, or a combination of both. An express contract takes place when both parties agree and get bound to the terms and conditions even if it did not go through the usual contract signing process. An example of an express contract is a purchase and sales contract.
- Implied Contracts – There are no written records or verbal records of this contract as it is based on the action of the parties involved in it. There are two types of implied contracts and they are as follows:
- Implied in Fact – It is intended for all of the parties involved in a contract, but it is not really done verbally or written.
- Implied-in-Law – This contract is mainly used to uphold justice and not with regard to the intentions of the parties who are involved in the contract.
- Void Contracts – This contract is not the opposite of a legal contract because it is an agreement between to parties who are who are involved in a illegal businesses or acts that are against the law. A known example is the deal that takes place between drug dealers and their buyers.
- Voidable Contracts – A contract is considered to be voidable if one of the parties involved chooses to abort the contract, which could be because of misrepresentation or failure of one of the parties to disclose certain facts. Unlike a void contract, a voidable contract is a legal contract.
- Simple Contracts – It is called a simple contract because there is no need to have it signed, witnessed, or even sealed.
- Formal Contracts – While you will have it easy on simple contracts, a formal contract, on the other hand, needs to be signed, witnessed, and sealed. This is completely opposite to that of a simple contract.
Equipment Lease Agreement Contract
Real Estate Purchase Contract
What Is a Breach of Contract?
A breach of contract is a violation of any of the terms, conditions, and responsibilities that are stated in a contract. This only happens with legal contracts that are enforceable by the law. Once a party is bound by the contract, any violations that they incur will be considered a breach. They will have to face the appropriate consequences for the said breach. A breach of contract can be remedied through compensation of damages or by filing for lawsuits and bringing the matter to court.
Contract of Sale
Bank Loan Agreement Contract
Office Lease Contract
Residential Rental Agreement Contract
General Staffing Agreement Contract
Full-Time Employment Contract
Permanent Part-Time Employment Contract
Basic Employment Contract
Associate Attorney Employment Agreement
What Are the Requirements of a Contract?
There are things that are needed in order for a contract to be created. They are called elements or requirements, but they tend to provide the same thing. It is good to know the things that make up a contract, especially if you are involving yourself into one. So below are the requirements that you need to know about a contract.
- Offer and Acceptance. In every contract, there will always be a party who does the offer and another party who accepts it. Without these two, a contract cannot possibly exist. Simply put, if nobody offered it, then nobody will agree to it.
- Mutual Consent – There should be no coercion or the parties involved in the contract should not be forced to agree to it, otherwise the contract will be deemed invalid. They must freely agree to the stipulated terms and conditions and they should have freely bound themselves to the said contract.
- Competence – This means that all the parties involved should be of legal age, without any physical or mental disabilities, and are competent enough to be involved in the contract.
- Consideration – For a contract to be formed, an exchange of something that has value needs to take place. These things can be in the form of money, products, or services. Each party should give something in return for it to be considered a contract. If only one party gives something, then it wouldn’t be called a contract but a gift.
- Legal Purpose – A contract should be about something that is legal and its contents should follow that which is included in lawful conduct. It should be in line with the law and not against the law. If it is something illegal, then it will not be enforceable by the law.
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