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.
Contract Conditions. Contracts are common in the business world. A contract is a type of legally binding written or spoken agreement. A valid contract will create a mutual obligation. This means that each of the parties is obligated, or required, to perform a duty under the contract.The contract conditions determine the parties' obligations. A condition is an act or event that affects a party's contractual duty. contract is a type of legally binding written or spoken agreement. A valid contract will create a mutual obligation. This means that each of the parties is obligated, or required, to perform a duty under the contract. The contract conditions determine the parties' obligations.