Depending on Florida`s fraud status, some contracts must be in writing to be enforceable, in addition to complying with the above legal requirements. The circumstances in which a written document is required include: This is how the Indian Contracts Act came into force, which was enacted by the British government because it governed India at the time. The law provides a basis for all agreements and contracts. This law applied throughout the country except in the state of Jammu and Kashmir. Both the agreement and the contract are the type of agreement between two or more parties. A contract, on the other hand, is a formal agreement between two parties that is enforceable either in court or by arbitration. Contracts take effect to the extent that both parties agree to the terms. Payment for an offer (which may take the form of money, physical objects, services, promised shares, or abstinence from future action, for example) must be reasonable and unconditional. The contract must contain free consent, which means that the object, conditions and purpose of the contract must be understood in the same way for all parties.

However, if your friend gives you a deposit and agrees to pay you $50 a night to stay at home, it`s a contract because you`ve agreed to exchange a service (using your home) for consideration ($50 per night). Your friends would have reason to complain if you accepted their payment but didn`t let them stay at your house. A judge may order you to let them stay with you, or more likely to pay them reasonable expenses related to their stay at the hotel. The careful presentation of the terms of the contract provides the court with a guide to deciding the case when a party breaks the contract. This helps the court decide on the merits of the complaint and determine the correct remedy if a party fails to comply with its obligations. This is an agreement that is usually about the employment or sale of a thing or lease. But a contract is still legally enforceable. It is important to note that contracts such as agreements do not need to be written, unless they involve transactions that last real estate, marriages or more than a year, depending on the state. However, it is better to get written contracts so that you can go to court if a party does not comply with its obligations. .