Can You Be Too Young or Too Old to Enter into an Enforceable Agreement? In earlier articles, we documented the requirements of a valid and enforceable contract, including the condition that the parties must have legal capacity. We further explained ...

Will the Contract Still Be Enforceable If Either Party Relies on a Mistake? One of the requirements of a valid and enforceable contract is that there must be an agreement. That has commonly been construed to mean that there must be at least two ...

What Situations Involve a Potential Lack of Contractual Capacity? For a contract to be binding and enforceable, the parties to that contract must both have what is known as "contractual capacity." What does that mean? When might a person fail to ...

When Is an Acceptance Really a Counteroffer? What Is the Mailbox Rule? Does It Still Apply? The first requirement of a valid and enforceable contract is that there must be an agreement. To constitute an agreement, the exchange between the parties ...

What Must an Offer Contain? When Is an Offer Not an Offer? One of the basic requirements of a valid and enforceable contract is an "agreement." Under contract law, an agreement requires an "offer" and acceptance of that offer. In business, though, ...

When Must a Business Contract Be in Writing to Be Valid? In business, it's common for most communications to be verbal—on the phone or even in person. Suppose you have a conversation with a customer, supplier or potential partner and you come to a ...

What Factors Can Be Cited as Evidence of an Implied Employment Agreement? In Texas, as in most states, employment is considered to be at will—the vast majority of people do not have any type of written agreement setting forth the terms and ...

When Is It Better to Have Your Employees Under Contract? There’s no requirement, at any level or for any job, that the parties enter into a binding employment agreement. A well-constructed agreement can offer benefits but also will place some ...

When Must a Commercial Agreement Be in Writing? In business, many ventures and transactions are initially sealed verbally or with a handshake. Are there commercial agreements that must be in writing? For centuries, oral agreements have been valid ...

Tips for Successfully Opening a New Enterprise According to statistics gathered by the Small Business Association, more than one of every three new businesses closes its doors within 24 months, and half fail within five years. Let's take a look at ...