A guarantee contract is a tripartite agreement between a creditor (the person lending the money/Lender), the borrower and a third person known as the guarantor, wherein the guarantor gives a solemn promise that he would repay the loan or money given to the borrower by the lender when the borrower defaults in the repayment of the loan, or if the borrower is unable to pay.
A contract is a binding agreement made between two or more parties which the law would enforce. A contract will only be valid and enforceable if it has the following elements:
A contract is an agreement between two or more persons which creates an obligation to do or not to do a particular thing. The essential elements of a valid contract are:
Have you ever been approached by someone to stand as [...]
This article will be focusing on the elements of a valid contract, what contract documents are and the forms they can take.
There are times in the business world that one must make alliances even with competitors to achieve ones goal.