Is a contract enforceable (i.e. is there consideration) if either party is allowed in the contract to terminate at any time, with or without reason, and without providing the other party with notice of termination in advance of the cancellation. I believe you must have notice of termination for the contract to be enforceable, but can anyone provide with a link to a site or case that proves this?
2007-09-16 07:49:11 · 2 answers · asked by jonathan a 1 in Politics & Government ➔ Law & Ethics
Hmmm. Sounds like a first year law school question. Contracts (use a 'K' ) have 3 elements: Offer, Acceptance, and Consideration. The K you mention has either party being able to terminate without notice. That initself is odd.
As long as the two parties are actively honoring the K it "is enforceable" , but once ONE exercises their right to terminate, poof, the K is ended. Sites are Westlaw, Lexis, or any law Library. NOTE that you have come up with a hypothetical K that probably would NEVER exist. Who would ever sign such a K without putting in a Notice" of 2 weeks, 30 days, . . . .? Answer: no one.
2007-09-16 08:12:17 · answer #1 · answered by marcus 2 · 0⤊ 0⤋
Contracts are agreements between the signers. Termination should be covered in the contract. Need more specific info to be able to answer in any depth.
2007-09-16 15:05:43 · answer #2 · answered by sensible_man 7 · 0⤊ 0⤋