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.
When it comes to business contracts, there are generally three different types: express, implied, and quasi-contracts. A contract is a legally enforceable agreement between two or more parties. In many cases, a contract is an actual written document, signed by both parties. But this is not always necessarily the case.ontract Formation. In the case of express and implied contracts, the legal effect of the agreement is the same. The difference between the two is the way in which the agreement is formed.