A ruler is one of the most common measuring instruments. It comes in many sizes and shapes, depending on what it is needed for. The yardstick is a long ruler (3 feet long), and a measuring tape is yet another type of ruler, made of...
To be a binding contract, there must also be an offer and acceptance that involves the exchange of promises to act and/or provide goods, services or money. The act, promises, goods, services and/or money are called âconsideration.â In order to have a binding, enforceable contract, there must be consideration.
However, some commercial agreements, such as letters of comfort and letters of intent, will generally be presumed not to be intended to be binding. Another examples of when an agreement will not constitute a legally binding contract is when its terms are not sufficiently certain.owever, some commercial agreements, such as letters of comfort and letters of intent, will generally be presumed not to be intended to be binding. Another examples of when an agreement will not constitute a legally binding contract is when its terms are not sufficiently certain.