Ex Contractu refers to obligations that arise from a contract or agreement between parties. This term is used in legal contexts to describe the source of a particular obligation, which is based on a contractual relationship.
A contract is a legally binding agreement between two or more parties that outlines the rights and obligations of each party involved.
For a contract to be valid, it must have four essential elements: offer, acceptance, consideration, and intention to create legal relations.
In most cases, a contract can be either oral or written. However, certain types of contracts, such as those involving the sale of real estate or contracts that cannot be performed within one year, must be in writing to be enforceable.
If one party fails to fulfill their obligations under a contract, it is considered a breach of contract. The non-breaching party may be entitled to remedies such as damages, specific performance, or cancellation of the contract.
Yes, a contract can be modified or terminated if all parties involved agree to the changes. However, it is important to ensure that any modifications or terminations are done in accordance with the terms of the original contract.
The statute of limitations for contract disputes varies depending on the jurisdiction and the type of contract. In general, it is advisable to consult with a lawyer to determine the specific time limit applicable to your case.
No, a contract entered into under duress or fraud is generally considered voidable. The aggrieved party may have the option to rescind the contract and seek legal remedies.
A unilateral contract is a contract where one party makes a promise in exchange for the other party’s performance, while a bilateral contract is a contract where both parties exchange promises.
In most cases, contracts entered into by minors (individuals under the age of 18) are considered voidable. However, there are exceptions for contracts related to necessities, such as food, clothing, and shelter.
The parol evidence rule is a legal principle that restricts the introduction of oral or written evidence that contradicts or adds to the terms of a written contract that is intended to be the complete and final expression of the parties’ agreement.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 13th April 2024.
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