Contracts

I included some items of law that might be of interest to the average layman. Some contracts are for mortgages, car purchases, credit cards. You must ALWAYS read the fine print, and remember that the spoken word means nothing. Sometimes you think you have a legal case and it turns out to be an arbitration case.

Contracts, in order to be legal, must have the following components:
Agreement, which means both an offer and an acceptance of the offer; Consideration, which means payment;Capacity, which means you must be of legal age and mentally competent, legal, which means the contract must be for something that is legal. Many contracts have language that is so exculpable as to be unenforceable in most courts or arbitration forums. Exculpable means that one party is trying give himself rights the other party doesn't have. The concept that all  contracts are a two way street must be interpreted equally between both parties.