Share this

Reading Time:
minutes remaining

Contract

An agreement entered into by two or more legally competent parties by the terms of which one or more of the parties, for a consideration, undertakes to do or refrain from doing some legal act, or acts. Essential elements of a valid contract are parties competent to contract, a proper subject matter, consideration, mutuality of agreement, and mutuality of obligation.

« Back to Glossary Index

Loved this? Spread the word


About the Author

kyle

Related posts

Junior Mortgage

Read More

Junior Lien

Read More

Judgement Proof

Read More

Judicial Foreclosure

Read More
{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Subscribe to our newsletter now!

>