All business contracts must contain the essential elements of an agreement. The essential elements include consideration, offer and acceptance, a legal purpose, capable parties and mutual assent.

EXAMPLE PERSONAL LOAN AGREEMENT. This loan agreement is dated January 1, 2023. This is a personal loan agreement between: Ritchie Ma of 555 Biggs St., Markham, ON, X1Y 2Z3 (the Borrower) ...

An informal business contract is an agreement between two parties that has the intent of a formal contract without the seal of a government agency or witness. In other words, its a mutually agreed ...

Contract Law 101. A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty. A legally enforceable contract requires the following ...

Bilateral contracts require an agreement between two parties and obligation on both sides. Understanding Unilateral Contracts Unilateral contracts occur when the offeror makes an offer to another ...