terms and conditions

Various Types of Contracts: Terms and Conditions

Contracts are legally binding agreements between two parties. A special education attorney makes sure that each party agrees to the terms and conditions on the contract and agrees to fulfill their promise. If either party breaks their agreement and the terms of the contract they can get into legal trouble. There are different types of contracts and they all are legally binding agreements.

Express Contracts

An expressed contract clearly states the terms either in writing or orally. This contract is for a specific amount of time and both parties accept this offer. Both parties must consent to the terms and conditions of the contract before agreeing to it.

Implied Contract

The terms of this contract are applied. The terms can be implied in fact or in law. In most cases, they both apply. Each party has a specific obligation that they must fulfill and are expected to meet this obligation. If they do not meet the agreed-upon obligation they may be in trouble with the law.

Executed Contract

This contract happens when both parties have fulfilled their obligations to each other and there is nothing that is left for either party to do. This can be done if there is a future act or obligation that still has to be performed according to the terms that both parties have agreed upon.

Warranty

legal servicesA warranty is still a type of contract. A warranty stats that something will be true. For example, when a person purchases a piece of gold a warranty is stating that the gold is real and authentic. A warranty will also help guarantee that a product will do what it promises to do. If it does not work and meet what it promised or if the product breaks in a specific time period a person may be able to get their money back. In order for the warranty to be valid, it must be stated in writing and a person must read all terms before they use this warranty.

Contracts are legal agreements between two parties to fulfill specific terms and obligations. When signing the contract each party must agree to the terms and the conditions. If a person does not understand the terms or conditions then they should not sign the contract until they research what is expected of them. Contracts can be held up in the court of law. When signing a contract each party is agreeing to meet the obligations that are stated in the contract. As long as they fulfill these obligations they will meet all the requirements as stated by the law.