Under Which Situation Can An Agreement Between Relatives Be Deemed Legally Binding

An agreement occurs when an offer from a party (for example. B an offer of employment) is made to the other party and that offer is accepted. An offer is a statement of conditions to which the person making the offer is bound by contract. An offer is different from an invitation to processing that only invites someone to make an offer and must not be contractually binding. For example, ads, catalogs and brochures indicating the price of a product are not offers, but invitations to processing. If this was the trap, the advertiser would have to provide the product to anyone who “accepted” it, regardless of inventory levels. As soon as you agree to do something, people in general expect you to do it – but are you legally obliged? Similarly, agreements concluded in a social context assume that the parties did not want legal effects. Informal credit agreements between spouses and wives or parents and children are considered non-binding. If a wife lends money to her husband or if a father lends money to his daughter without explicitly creating legal relationships (for example.

B use a loan agreement to formalize the agreement), then there is no contract obliging the borrower to repay. . . .

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