An agreement is a mutual understanding between two or more competent parties that creates a commitment or an obligation, often forming the basis for a contract.
The term 'express' has multiple applications across different fields such as law and transportation. It typically denotes clarity, specificity, or speed.
An extension refers to an agreement between two parties to extend the time period specified in a contract. In the context of taxation, an extension provides an additional period of time to file an income tax return.
An implied contract refers to an agreement that is established by the actions, behavior, or circumstances of the parties involved, without a written or spoken exchange. Unlike an explicit contract, its terms are inferred from conduct rather than articulated in words.
An Implied In Fact Contract is an agreement derived from the actions, behavior, or circumstances of the involved parties, rather than from their written or spoken words.
A document that sets out the main terms of an agreement between two or more parties and their intention to enter into a binding contract once certain details have been finalized. While not a formal contract itself, certain provisions can be enforceable.
Negotiation is the process of bargaining that precedes an agreement between parties. It often results in a contract and can involve various stages and techniques to reach a mutually beneficial outcome.
Stipulated facts are a set of facts that both parties in a legal or tax dispute agree upon ahead of time, which simplifies the dispute resolution by narrowing down the issues in contention.
A unilateral contract is an agreement whereby one party makes a promise to do, or refrain from doing, something in return for an actual performance by the other party, rather than a mere promise of performance.
