General Contract Agreement Sample
General contract agreement is basically an agreement signed between two or more parties to be responsible for the further project. Basically, it is a promise between two or more persons to fulfill all requirements in return of some specific valuable benefit known as consideration. In short a state holder gives authority to a person to work for him for specific time period and gives reward to him in return. Moreover, the process contains the documentation process for the authenticity of project and to maintain the authenticity a document is signed by both the state holder and the project holder. This agreement is signed by both and submitted to court for further procedures of making it a legal agreement. Although, this agreement can take place in any of the field of work either it’s about state dealing or fixing a car within given time period. Perhaps all aspects of contracts do not need legal agreements to be signed anyways.
Above all, the contract requires some elements to be followed like an offer, an acceptance of that offer which furthers proceed to meeting, a promise to be fulfilled, a valuable and a fix time to be considered as deadline of commitment, terms and conditions for performance.
Whereas, sometimes a unilateral contract also exists in agreement where other considerations are promised to be given in return of factual performances are also included in separate portion of agreement. Somehow this may burdens the contract holder but it gives profit to the state holder. These contracts are also used between lending money and in return interest is paid.
Whereas, the main problem that comes in way of agreement that all rules are to be followed at any case and one cannot join another project better than this one until the completion of current agreement. So in some situation difficulties are faced in face of being bound to one and only project.