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LSDefine

Simple English definitions for legal terms

A quick definition of illusory contract:

An illusory contract is an agreement between two or more parties that seems like a real contract, but one party doesn't actually have to do anything. This means that the contract isn't really enforceable or legally recognized. It's like making a promise that you don't have to keep. Sometimes people use the word "contract" to refer to the written document that shows the agreement, but that's not really what makes a contract real or not.

A more thorough explanation:

An illusory contract is a type of contract that appears to be binding, but in reality, it is not. It is a contract that lacks consideration, which means that one party is not obligated to do anything. Therefore, the contract is not enforceable by law.

For example, if a company offers a job to an employee but reserves the right to terminate the employment at any time without cause, the contract is illusory. The employee is obligated to work for the company, but the company is not obligated to keep the employee employed. Therefore, the contract is not enforceable.

Another example of an illusory contract is a contract that gives one party the option to cancel the contract at any time. For instance, if a person signs a contract to buy a car but has the option to cancel the contract within 24 hours, the contract is illusory. The buyer is not obligated to buy the car, and the seller is not guaranteed a sale.

In both examples, the contracts lack consideration, which is a necessary element of a binding contract. Therefore, they are illusory contracts and not enforceable by law.

Illusory Appointment Act | illusory tenant

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General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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