In contract law, past consideration is a promise or an act that was made or performed before a contract was formed. It is similar to doing a favor for a friend and later expecting payment.  However, this isn’t usually seen as valid because law requires mutual exchange of value or ‘quid pro quo’ and a...Read More

A lease contract is a legally binding agreement where a lessor grants a lessee the right to use property or an asset for a specified period in exchange for payment. This document governs the relationship and responsibilities of both parties. Lease terms outline aspects such as duration, payment amounts, permissible uses, and renewal or termination...Read More

A contract is a legally binding agreement that establishes specific obligations between parties. Contracts are fundamental across various industries, enabling clear, enforceable commitments that safeguard business interests and ensure mutual understanding. Contracts are foundational to business operations, providing clear terms that protect both parties involved. By ensuring legally sound agreements, businesses can reduce risks, maintain...Read More