A contract is an enforceable oral or written agreement between two or more people. The formation of a contract is accomplished when there is an offer and acceptance between the contracting parties and the exchange of “consideration” (that is, something of value).
With a few exceptions, contracts entered into by minors are not enforceable and may be rescinded. However, contracts of necessity, like food or shelter, are typically binding despite having been entered into by a minor. Minors may also be able to enter contracts for educational purposes[1] or, in some circumstances, under the “Home, Farm and…
DetailsSome of the contracts you may enter into as an adult include employment contracts, school loans, house or car purchases, installment loan contracts for purchases (televisions, cell phones, computers, etc.), rental contracts, insurance contracts, contracts for services and credit card agreements.
Not necessarily. However, if the contract is for your payment of another person’s debt[1], if it concerns real estate[2], if it lasts more than one year[3], or if it transfers property after death (i.e. a will)[4], it must be in a signed writing. [1] §§ 725.01 and 687.0304, Fla. Stat. [2] § 689.01, Fla. Stat.…
DetailsIf a problem arises, a written contract would offer proof of the agreed-upon terms and conditions between the people making the contract (parties). This may be beneficial in a court of law. With some exceptions, a court may not accept evidence about oral terms of the contract if there is a written contract that is…
DetailsRead the contract carefully and make sure you understand all of it, cross out any parts that are not what you agreed to and write in the parts of the agreement you want that do not appear in the written contract. Initial the changes and have the other party do the same to indicate his/her…
DetailsIf you fail to complete the contract or miss payments, without a legal basis to do so, you can be sued. You will be given a chance to defend yourself and the court will then determine if the claim brought against you is valid under the circumstances. If it is valid, you may have to…
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