3 ms·
IANAL, but standing alone, with no exchange of 'consideration', and only signed/stated by one party, it likely doesn't create much of a legal obligation. Combi
by gojomo 13y ago
IANAL, but standing alone, with no exchange of 'consideration', and only signed/stated by one party, it likely doesn't create much of a legal obligation.
Combined with other communication - perhaps as one of a pair of 'pinky-swears', each stating one party's offering in return for the others' - it might contribute part of a larger commitment. After all, a contract doesn't have to be written - it's just wise to do so for the sake of clarity.
The exercise of writing down a mutual understanding, even if it's not a legally strong contract, can still be useful in reducing the risk of misunderstandings.
- dctoedt 13y ago> IANAL, but standing alone, with no exchange of 'consideration', and only signed/stated by one party, it likely doesn't create much of a legal obligation. That's not always the case. For example: "The doctrine of promissory estoppel prevents one party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise." (From http://en.wikipedia.org/wiki/Estoppel#Promissory_estoppel. http://en.wikipedia.org/wiki/Estoppel#Promissory_estoppel.)