Formation
A contract is an agreement between two or more parties creating reciprocal obligations enforceable at law. The elements of a contract are mutual assent, consideration, legally competent parties and legal purpose.
Read more about this topic: United States Contract Law
Famous quotes containing the word formation:
“That for which Paul lived and died so gloriously; that for which Jesus gave himself to be crucified; the end that animated the thousand martyrs and heroes who have followed his steps, was to redeem us from a formal religion, and teach us to seek our well-being in the formation of the soul.”
—Ralph Waldo Emerson (1803–1882)
“The moral virtues, then, are produced in us neither by nature nor against nature. Nature, indeed, prepares in us the ground for their reception, but their complete formation is the product of habit.”
—Aristotle (384–322 B.C.)
“Those who were skillful in Anatomy among the Ancients, concluded from the outward and inward Make of an Human Body, that it was the Work of a Being transcendently Wise and Powerful. As the World grew more enlightened in this Art, their Discoveries gave them fresh Opportunities of admiring the Conduct of Providence in the Formation of an Human Body.”
—Joseph Addison (1672–1719)