In social situations, there is generally no intention that agreements become legally binding contracts (. B for example, friends who meet at a given time are not a valid contract). Empty contracts may arise if one of the parties is unable to fully understand the effects of the agreement. For example, a person with a mental disability or an intoxicated person may not be consistent enough to properly record the parameters of the agreement, rendering it invalid. In addition, agreements made by minors may be considered unseable; However, some contracts with minors who have obtained the consent of a parent or legal guardian may be enforceable. A minor between the ages of 7 and 18 can therefore enter into a contract. However, it is assumed that they do not understand the effects of the contract. This means that the minor remains protected at the expense of the other party. The minor may terminate a contract without cause at any time before the age of 18 and for a reasonable period of time thereafter, the contract being “not valid”. Not all agreements between the parties are contracts. It must be clear that the parties intended to enter into a legally binding contract. The parties do not need to take specific measures of disability if they have not provided benefits under the agreement. None of the parties has performance obligations based on the agreement.

If the parties have already done something, the payments or other benefits must be refunded. If the return is not possible, the party must compensate for the value of the benefit. Usury also invalidates a contract. Usury means being able to take advantage of the state of distress, the lack of judgment or the position dependent on another. Contracts can have serious financial and legal consequences. It is important to carefully evaluate an agreement before you decide to conclude it. Once you have read and understood the terms and are certain that you want to enter into the contract, it is necessary that you and all parties involved sign the contract. This shows that you accept the terms and formalize the agreement.

Share →