Contracts and Privacy Issues
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Abstract
Buying a car, purchasing a home, or even buying an app for your cell phone requires you to sign some sort of contract. With that being said, we all need to be educated on Voidable, Bilateral, and Express contracts.
Introduction
Our society relies on contracts. Chances are, if you are over 18 years old, you have signed at least a handful of contracts in your life. Many people, however, do not know that there are different types of agreements. I believe this is very important for people to know so they are fully aware of what they are signing by the “X”.
Before explaining the differences between an express and implied contract, I believe its beneficial to know what each of the terms actually mean. An express contract is a very precise legal document that has its conditions very clearly stated. All loopholes are closed and there is no room for speculation. If you have ever heard of the phrase “Iron Clad” in terms of contracts, they are referring to this type of legal document.
Implied contracts, however, are almost the opposite of an expressed contract. An implied contract is a legally implemented agreement between two or more parties that is not clearly stated or known. This can occur in a variety of ways; some sort of relationship between the parties, assumed intentions, or a legal principle of equity. However, implied contracts are most commonly based on conduct.
As you can tell, the two types are almost opposite. I think this information should be able to sway someone who is going into a contract deal to make sure that all of the terms and conditions are clearly defined. This way it is not just up to a judge to rule in favor of one party over another.
Unilateral contracts are very simply an agreement that a promisor offers to pay another party, which is the promisee, for an act. In this case the promisee agrees by performing this act. We see unilateral contracts all of the time. If you look through the local newspaper there might be an ad that someone needs to have their grass cut and they will pay $50. This is just one example of a unilateral contract.
A bilateral contract is similar to a unilateral contract in that at least one person completes an act as part of an arrangement. The difference between the two is that in a bilateral contract, both parties promise to perform an act in exchange for the other to perform an act. Bartering would be a good example of this type of contract. Also a small example of this would be that a mother and eighteen year old son make a deal. If he paints the wooden fence outside, she will take him to the mall.
A voidable agreement is a legal document that has