Blog

What makes an agreement enforceable?

Benjamin:What makes an agreement enforceable? An entrepreneur should recognize the differences between different kinds of agreements.   With a few exceptions, an oral agreement is enforceable but will often be hard to prove. Without documentation of the agreement, understanding of any agreement will likely differ between two parties. If you want to make all the terms of an agreement enforceable, document it in writing. Once a written agreement is prepared, make sure you understand what is actually enforceable. There are three basic types of written agreements, depending on the language of the agreement: agreements to agree, letters of intent, and a fully defined, binding agreement. Agreements to agree simply state the intent to continue negotiating. While other terms might be tacked on, these agreements only commit the parties to continue to work towards a final agreement. Letters of intent, however, normally state the basic terms of an agreement, but leave the finer details for later. With letters of intent, it is critical that you understand whether the agreed terms are immediately binding or if there will be no binding agreement until all terms are nailed down. With a letter of intent, it''s a good idea to include a clause that defines which provisions are presently enforceable and which are not. And when you reach a final agreement, fully document it in writing.

Words translated by CCJK

146,096,379

Request a call or contact us

  •  

    Call ccjk.support for professional assistance

  •  

    Click Here to leave us a message and be as detailed as possible.

We are Certified

Our Client Satisfaction

rating for previous quarte

4.00
  •  
    Inquiry Form

    Please take few minutes to fill
    inquiry form and get Free Quote

  •  
    Request a Call

    Click to receive Free Call, Our
    Representative will contact you

  •  
    Leave a Message

    Please leave us a message and
    be as detailed as possible

Over 95% of our clients recommend our language services to others


Copyright © CCJK Technologies Co., Ltd. 2000-2017. All rights reserved.
TOP