Buy custom Contract Cancellation due to Breach of Contract
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| Topic: |
Business
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| Number of pages / Number of words: |
8 / 2099 |
Essay's paper body
Third, each party must have agreed either to give up something or transfer some benefit to the other party, which is called the "consideration," (in our scenario the $16,000). Fourth, the parties must have had the ability to enter a legal contract (meaning that they must have been of legal age and of a sober and sound mind)...
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And lastly, the basic essential terms of the contract must be agreed upon between the parties. If one of these basic requirements is lacking, an agreement may be unenforceable or "void," (Binding Contracts, 2000). Advantages of Contracts Contracts offer many advantages. First, they give rise to a legally enforceable agreement which will be protected by the court...
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