Is a legally binding document prepared by a buyer to describe all the terms and conditions of a purchase?

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16-08-2022
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Is a legally binding document prepared by a buyer to describe all the terms and conditions of a purchase?

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QWCyan QWCyan · Answer 1 · 2022-08-21T12:43:40+02:00

A contract will be called a document that is legally binding. The contract is prepared by the buyer. The contract will describe all the terms and conditions that are involved in a purchase. It is prepared to show what actions are required and what actions are restricted. A contract helps to create mutual obligations that are enforceable by law.

For a contract to be binding and legal it should satisfy some conditions. The contract should be legally enforceable. For example, the marriage contract between the husband and wife. There should be mutual consent of both parties. In other words, coercion should not be used while entering into a contract. There should be a valid offer that should have a valid acceptance to it.

The other condition for the contract is that it can be entered only by a person who is an adult. It is also very important that he should not be a person of unsound mind or insolvent. As for the above people, the contract cannot be binding.