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Contract News
Before You Enter into a Home Improvement Contract
Both parties to a contract must give their consent, which must be true and freely given. If one party's consent was obtained through fraud (deception or trickery), the contract can be canceled by the other party.
A contract can also be canceled if it is signed under duress or undue influence. Examples of duress are threats of or actual physical harm. Undue influence occurs when a person does not freely exercise his or her own free will as a result of another person's influence.
Statutory Law Requires Some Contracts To Be In Writting
Statutory law may require some contracts be put in writing and executed with particular formalities. Otherwise, the parties may enter into a binding agreement without signing a formal written document; which can possibly lead to complications down the road.
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News about contract cases in Texas and nationwide:
Definition:
A promise by a contracting party that the other party can rely on certain facts or representations as being true.
Offer
Definition:
Offer: A proposal that is made to a certain individual or legal entity to enter into a contract, that is definite in its terms, and that indicates the offerer's intent to be bound by an acceptance.
Escape Clause
Definition:
A provision in a contract or other document permitting parties to avoid liability for nonperformance under certain conditions.
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