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Legal Advice
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Do you need help?
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Deciding to make or break a contract |
| A contract is an agreement between parties (either individuals or groups of individuals) that sets up mutual obligations to do or not to do certain things. It legally binds the parties to adhere to the conditions as stated by the terms of the contract. Contracts can be made with respect to all manner of things, including buying or selling a house, getting married, starting a business, borrowing money, and more. |
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| One common question asked about contracts is whether or not the agreement has to be in writing. Although verbal contracts are legally binding in most cases, it is far safer to have a contract in writing, so that both parties have a record of exactly what has been agreed. |
| If either party should break the contract, having a written agreement also provides concrete proof of the obligations that can be used in court to uphold a case. Note that you are bound by all terms of a written contract, so be sure to read all clauses - ignorance is no excuse for breaking a term that is clearly laid out in writing. |
| For more information regarding contracts, consult a solicitor. |
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