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Can a promise be legally binding?

Can a promise be legally binding?

A promise is not legally binding, but a contract is. If you make an offer to an employee or business associate who accepts, whether verbally or silently, and you then renege on the offer later, the court may consider your original offer to be a legally enforceable contract.

Should all promises be enforced by law?

If one party makes a statement or a promise that causes another party to rely on that statement in such a way that he or she is financially injured by that reliance, then a court will enforce the statement or promise as if it was a completed contract.

Can a business sign a ” no hire ” agreement?

For any business that depends on placing employees within a client’s operations on a regular basis, “no hire” agreements offer much promise (even for jobs that fall below the Plimsol line for more traditional noncompetes).

Can a company authorize an employee to sign a contract?

If an employee is only meant to sign on behalf of their company in a specific instance and their belief in implied authority to sign in all instances is to be curbed, drafting a power of attorney to authorize signing is recommended, although this may not be appropriate for all occasions.

Where can I sign a contract for a company?

Electronic contracts featuring electronic signatures should be printed out to maintain a physical record. If you need help understanding who can sign a contract for a company, you can post your legal need on UpCounsel’s marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site.

Who is in charge of signing a contract?

Corporation. Signing authority often lies with the company’s chief executive officer (CEO) or president. If an individual signs on behalf of a corporation and they have not been given the authority to do so, the corporation will not be bound to the contract.

Can a company make an employee sign an agreement?

One problem is that unless you give the employees something new in exchange for signing, the agreement might not be enforceable. Just continuing to be employed is not enough. You will need to give them a signing bonus or promotion, or other form of consideration. Can the Employee Be Required to Sign?

Can a promise be made in a contract?

Like many legal questions, this one has both a yes and no answer. For a contract to be enforceable, the law requires consideration to pass between the parties. The idea is that a ‘promise’ is not binding unless you have received something in exchange for the promise.

What happens if you sign a no re-hire agreement?

Two weeks later, “Bob” applies for a job – again – at the same company and does not get hired. “Bob” then sues the company, raising discrimination, retaliation or some other legal claim that arose after he signed his release, and thus not covered by the release. This is what a “No Re-Hire” clause is intended to prevent.

Who is authorized to sign a contract for a company?

Rather, this task falls to authorized representatives such as managers, although, there are also instances where other employees may act as agents for their company. The authority to sign a contract varies depending on the type of company involved.