Legally Binding Contract Sample. What Are the Main Elements of a Contract? Valid: A valid contract is one which is enforceable by law b.
The definition of a contract is a legally binding, and enforceable by law, agreement made between two or more parties. After the contract is signed, it is legally binding and you may find yourself stuck with something you didn't want or facing a breach-of-contract. Legally binding means that one agrees with the terms under a written or spoken contract to behave in certain ways.
However, there are some exceptions, depending on the construction of the agreement and the purpose of the contract.
FAQsWill a contract be valid but unenforceable?
Contracts are legally binding agreements, and they pervade almost every aspect of our personal and business lives. Always ensure that you have a physical copy or print out of complete. After the contract is signed, it is legally binding and you may find yourself stuck with something you didn't want or facing a breach-of-contract.