What is a VMSN file? File created by VMware virtualization software; saves the virtual machine (VM) data for a snapshot, which is a frozen state of the VM saved at a particular point in time; can be one of several different snapshots used by the virtual machine; saved with a .VMSD file, which contains the metadata for the snapshot.
The law will consider a contract to be valid if the agreement contains all of the following elements: 1  offer and acceptance; 2  an intention between the parties to create binding relations; 3  consideration to be paid for the promise made;  legal capacity of the parties to 1  act; genuine consent of the parties; 2  and. legality of the agreement.
Best Answer: A contract can be oral or in writing. Some contracts must be in writing such as a contract for the sale of land. An IOU is legal even on the back of a bubblegum wrapper if it is signed by both parties and dated but it does not have to be in writing.eport Abuse. Yes, it is legally binding, providing that other statutes weren't broken in obtaining the IOU or in the agreement itself. If you threatened someone to get them to sign it, it's not legal. If it's for an illegal enterprise, it is not legal. If you are charging excessive interest, again, not legal.