Editable tuition reimbursement contract template doc sample, A contract is a binding legal agreement between two parties that gives rise to an obligation to provide, to do a thing or not to some other thing. It is binding in the way that it possibly imposed through judicial action in the proper court and might give rise to liabilities in the event of its own violation or non-compliance thereof. Even the stipulations in a contract might vary but they are always subject to the will or consent of the parties. This simply means that you can’t be obligated to a contract unless you agree to it willingly. The main reason behind this is that an essential requisite to a contract is the consent of the parties that must be publicly given as a way to become binding.
In fact, understanding more about contracts would be like knowing more about history and life generally. Contract law is definitely not the development of a couple of thoughtful people, nor can it be part of any kind of grand design. Truly, contract law has much of its origins in the common law basis of American society. In other words, contract legislation is a little textbook illustration of how common law developed in Britain and the United States. People today participate in business transactions. Eventually, some of these become resources of disputes between various parties. Some legislation already on the books can cover the dispute. Very often, they don’t. So that is where a court should step in to pay so-called tricky cases and set new laws. These are called precedents, that can then be carried over to similar instances later on.
It’s the desire to avoid gray areas and things of interpretation that produces the need to form contracts to safeguard your interests. In other words, a handshake can get you in trouble, since the specifics of this contract can be a thing open to interpretation. What’s not as open to interpretation is a valid arrangement or builder agreement that expressly states the obligations of all parties of a contract. The more the contract clearly outlines those obligations, the better off all parties will be, especially if there ends up becoming a dispute.
Hence, before enrolling legal forms, read the fine print closely. Go at your own pace if you must. You do not need to end up in a situation where you endure the effects of a contract; consequences which you did not anticipate because you neglected to thoroughly scrutinize its contents.
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