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:
“The formation of an oppositional world view is necessary for feminist struggle. This means that the world we have most intimately known, the world in which we feel “safe” ... must be radically changed. Perhaps it is the knowledge that everyone must change, not just those we label enemies or oppressors, that has so far served to check our revolutionary impulses.”
—Bell (c. 1955)
“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.)
“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)