Permachart - Marketing Reference Guide: Meeting Of The Minds, Executory Contract, Uniform Commercial Code
Document Summary
L e a r n r e f e r e n c e r e v i e w permacharts. The parties to the agreement exchange promises to do some future act in essence, it is a promise for a promise, including rights and duties on each side. Similar to an implied contract, where the circumstances are such that the intent of the creation of a contract may be inferred. All the terms of the agreement have been completed by all parties involved. All or part of the terms of the agreement remain to be performed. The terms of the contract are stated, orally or in writing, by the parties. The contract is inferred from the conduct of the parties, although not spelled out in words. Voidable enforcement of this contract because some additional requirements outside of the common law elements of the contract are missing.