Legally Enforceable Agreement
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A Legally Enforceable Agreement is an agreement that may be enforceable by law between two or more legal parties.
- Context:
- It can range from a Verbal Legal Agreement to a Written Legal Agreement (legal agreement document).
- It can range from being a Legal Agreement between Individuals, Legal Agreement between Organizations, or a combination of both.
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- It can contain various Legal Agreement Document Components (such as an offer component and valid consideration component).
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- Example(s):
- a Contract Agreement, where two or more parties create mutual obligations legally enforceable under contract law, such as:
- The Carbolic Smoke Ball Contract (1892), where the Carbolic Smoke Ball Company's advertisement was deemed a legally binding offer, leading to the famous case Carlill v Carbolic Smoke Ball Co.
- The Standard Oil Trust Agreement (1882), which consolidated numerous oil companies under one trust and was later deemed an illegal monopoly.
- a Promissory Estoppel, where one party relies on another's promise to their detriment, making the promise legally enforceable even without consideration, as in the case of Central London Property Trust Ltd v High Trees House Ltd (1947).
- a Quasi-Contract or Unjust Enrichment, where the law imposes obligations to prevent unfair benefit, even in the absence of an actual agreement, as in the landmark case of Needham v Bremner (1866).
- a Consent Decree, which is a settlement agreement between parties that is approved by a court and becomes legally enforceable, such as the 1956 Consent Decree in the United States v. Western Electric Company antitrust case.
- a Treaty, such as the Treaty of Versailles between nations.
- a Power of Attorney Agreement, permitting one person to act on another's behalf in legal matters, like the Enduring Power of Attorney introduced in the UK by the Enduring Powers of Attorney Act 1985.
- a Last Will and Testament, stipulating the distribution of an individual's assets after death, such as the famous Will of William Shakespeare.
- an Arbitration Agreement, committing to settle disputes through arbitration rather than court proceedings, like those commonly used in international commercial contracts.
- a Medical Consent Form, acknowledging a person's agreement to undergo a specific medical procedure, which became standardized following cases like Salgo v. Leland Stanford Jr. University Board of Trustees (1957).
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- a Contract Agreement, where two or more parties create mutual obligations legally enforceable under contract law, such as:
- Counter-Example(s):
- a Governmental Permit, which is a unilateral grant of permission from the government.
- a Casual Promise, like a friendly agreement.
- a Promise to Oneself, such as a New Year's resolution (such as a dietary commitment).
- an Affidavit Document, as it is a unilateral sworn statement of fact under law.
- See: Contract Law, International Law, Business Law, Rescission (Contract Law), Damages, Law of Obligations, Legal Entity.
References
2023
- (Wikipedia, 2023) ⇒ https://en.wikipedia.org/wiki/Contract Retrieved:2023-4-28.
- A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more mutually agreeing parties. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. A binding agreement between actors in international law is known as a treaty. ...
2023
- chat
- A legal agreement is an arrangement or understanding between two or more parties that is enforceable by law. This term is broader than a contractual agreement, encompassing not just contracts but other types of enforceable arrangements as well. These could include certain types of implied agreements, unenforceable contracts, and some forms of quasi-contractual obligations. A legal agreement becomes enforceable when it meets the requirements of the applicable law, and the specifics of these requirements can vary depending on the jurisdiction and the nature of the agreement.