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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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How do you make a legally binding contract between two people?

Generally, to be legally valid, most contracts must contain two elements: All parties must agree about an offer made by one party and accepted by the other. Something of value must be exchanged for something else of value. This can include goods, cash, services, or a pledge to exchange these items.

Can you make a legally binding contract with yourself?

The simple answer is YES. You can write your own contracts. There is no requirement that they must be written by a lawyer. There is no requirement that they have to be a certain form or font.

Can you make a contract with a friend?

Business contracts between friends can seem like an ideal scenario, but a contract, even when all the parties involved know each other personally, is still a legally-binding document, one that spells out the responsibilities of all of the participants, as well as expectations and possible ways to resolve conflicts,

Can two people make a contract?

A contract between two people is one of the most common types of contracts. A contract is a type of agreement made between two or more people that is also enforceable by law.

Can two people make a legal contract?

Updated November 24, 2020: A contract between two people is one of the most common types of contracts. A contract is a type of agreement made between two or more people that is also enforceable by law.

Where do initials go on a contract?

The initials, that scribble at the bottom of the page, are supposed to represent your consent and often end up scrawled in a corner of the page at the end of the 48th page of your contract. The usefulness of the initials is often questioned and their function remains abstruse for the vast majority of signatories.

Is it necessary to initial each page of a contract South Africa?

There is no legal requirement to initial on a contract or agreement. However, there are certain laws or requirements that do require initials to be made on certain documents, particularly for statutory prescribed documents/forms or where formality is statutorily provided.

What is the most basic rule to a contract?

Offer and Acceptance The most basic rule of contract law is that a legal contract exists when one party makes an offer and the other party accepts it. For most types of contracts, this can be done either orally or in writing.

How do you make a legally binding contract between friends?

Provide a written summary of the legal names and addresses of the parties entering into a contract. Put all of the contract terms and conditions in writing. Include information on the consideration that each party is agreeing to deliver.

Can a regular person make a contract?

Anyone can enter into a contract, except minors, certain felons and people of unsound mind. The contract must identify who the parties are; usually names are sufficient, but sometimes addresses or titles may be used.

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