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The Elements of a Legal Contract That Applies to Jim and Laura Scenario A contract refers to a voluntary agreement between two or more individuals that is enforceable by law. It is a legally binding arrangement that obliges the involved individuals to complete specific tasks. It is a promise made between the involved parties that […]
Contract Clause The contract clause to be considered in this case is dispute resolution clause. Dispute resolution clause is a section in a contract or agreement that sets out the techniques for solving disputes between two or more contractual parties. The agreement scope is resolute in clause drafting. The dispute resolution clause requires to be
Sometimes contracts are created verbally, without the parties involved recording them in writing. Such contracts are referred to as oral contracts. Enright (2018) defines oral contracts as verbal agreements that may be legally binding. Similar to written agreements, the involved parties enter into an oral contract to do or not to do a particular obligation.