Elements of valid contract
For example, a promise to deliver goods in the future in return for a promise to pay later.
Executed consideration: Executed consideration refers to the situation where one party has already performed their part of the agreement, and the other party is now obligated to fulfill their promise..
Types of agreement in India
For example, a promise to deliver goods in the future in return for a promise to pay later.
Executed consideration: Executed consideration refers to the situation where one party has already performed their part of the agreement, and the other party is now obligated to fulfill their promise..
Types of contract in business law With examples
For example, a cleaning company will sign a client service agreement with their customers.
They agree to provide thorough cleaning services and the client agrees to pay a certain sum of money at certain times..
What is an example of a contract in real life?
When an individual goes to the supermarket to buy their groceries, they enter into a contract with the supermarket to make payment of money in exchange for food and drink.
Employees enter into a contract with their employer to perform their work in exchange for a monthly or weekly salary..
What is an example of a type of contract?
Express Contracts
These types of contracts are the most common and are used daily in business law.
Lease agreements, car buying agreements, and a contract to purchase a home are examples of express contracts used in business law..
What is an example of a valid contract?
Examples of Valid Contract:
Example 1: Party A agrees to sell Rice crops to Party B.
Both parties agree that Party A can cut the crops and take them, once he pays the agreed price..
What is the best example of a contract?
For example, whenever we buy a product at a store or go grocery shopping, we are entering into an agreement to purchase whatever it is we are purchasing.
When we get a new job, we sign an employment agreement to start work – that's a contractJan 21, 2021.
