On the average a racing horse should spend at least 6 months in training (by that time his knees will be closed), before we start to increase the speed from a working gallop, and at least 10 months before he runs his first race.
A legally binding contract is a contract agreement that is valid under state and federal contract laws.Legally bindingâ means that the parties must obey the terms written in the contract and perform their contract duties as stated. Failure to do so may result in legal consequences, such as a damages award.
Quick Answer. A binding offer, according to Nolo, is any type of action that legally binds separate parties together under a contractual agreement. Contracts with offers take many forms, from simple to complex. For example, a simple binding offer is initiated by a cab driver who stops to pick up a passenger. The passenger accepts the offer of a ride and pays the driver, which creates a legally binding contract.