QUESTION
If an agreement is under the term contract is it legally binding?
Asked on Aug 18th, 2017 on Contracts - Kansas
More details to this question:
An agreement has been made under the term "contract" where both parties have agreed. The definition of the word "contract" is known by both parties. But the party who proposed it has not acknowledged if it is legally binding or not. With that being said, because it is under the term contract and fits everything needed to be an active contract is it legally binding?
1 ANSWER
If indeed the agreement meets all the prerequisites of an enforceable contract, it doesn't matter what you call it, it's a contract.
Answered on Aug 21st, 2017 at 12:51 PM