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Simple English definitions for legal terms
dependent contract
Read a random definition: copartner
A quick definition of dependent contract:
A dependent contract is an agreement between two or more parties that creates obligations that can be enforced by law. It can be a written document or a verbal agreement. The parties involved have certain rights and duties that they must fulfill. A contract can be defined as a promise or set of promises that the law recognizes as a duty. It is important to understand that a contract is not just a piece of paper, but rather the legal relations resulting from the agreement.
A more thorough explanation:
A dependent contract is a type of contract that creates obligations between two or more parties that are enforceable by law. It is a legally binding agreement that outlines the terms and conditions of the agreement.
For example, a dependent contract could be a contract between an employer and an employee. The employer agrees to pay the employee a certain amount of money in exchange for the employee's work. If the employee does not fulfill their obligations, the employer can take legal action to enforce the contract.
Another example of a dependent contract could be a contract between a landlord and a tenant. The landlord agrees to provide the tenant with a place to live in exchange for rent payments. If the tenant fails to pay rent, the landlord can take legal action to enforce the contract.
These examples illustrate how dependent contracts create legally binding obligations between parties. If one party fails to fulfill their obligations, the other party can take legal action to enforce the contract.