THE 3 COMPONENTS
THAT YOU’LL FIND IN EVERY CONTRACT
Writing up a legally binding contract that will hold up in court is harder than you might think. That’s why it’s best to get the help of an experienced business lawyer when you find yourself in a situation where you need to put one together. However, it helps to know the very basic components that every contract needs before you put one together with another party. So, make sure your contract has the following: MUTUAL ASSENT This is just the legal term for the offer (or promise) in exchange for some sort of act from the other party as well as the other party’s acceptance of the offer. The other party’s acceptance might entail a promise or some sort of performance in return. Only after both parties agree to the offer and the acceptance of that offer can they enter into a contract. CONSIDERATION Simply put, consideration refers to what each party gets in exchange for upholding their end of the agreement. It’s an agreement to refrain from something you have the legal right to do, or to do something you are not legally obligated to do. For example, if you were to go skydiving, the skydiving
company will have you sign a contract in which you waive your right to sue them if you get injured while skydiving.
REMEDIES These are the consequences for breaching the contract, which usually take the form of damages. There are a few different types of damages, including: • Compensatory damages: The party who breached the contract is obligated to compensate the other party for their financial losses, and nothing more. • General damages: While compensatory damages seek to cover actual losses, general damages seek to cover probable losses. • Punitive damages: These damages punish breaches of contract as a means to deter them, but they are rare except in cases of fraud. By understanding the basic components of a contract, you can better prepare yourself for entering into them with other parties. Just remember to have the expert legal team at REIBLAW look it over as well, to ensure it’s in your best interest. Schedule an appointment with us at www.reiblaw.com today!
SHAVED ASPARAGUS SALAD
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Inspired by ACoupleCooks.com
INGREDIENTS
• 1 lb asparagus spears • 1 tbsp lemon juice • 1 tsp Dijon mustard • 3 tbsp extra-virgin olive oil
• 3/4 cup Parmesan cheese, grated • 1/2 tsp kosher salt • 1/8 tsp red pepper flakes • Freshly ground black pepper, to taste
DIRECTIONS
1. With a vegetable peeler, shave each asparagus spear from tip to base. This is easiest to do if the asparagus is on a flat surface. 2. Place shaved asparagus in a bowl and blot off excess moisture with a paper towel. 3. In a separate bowl, make a vinaigrette by whisking together lemon juice, Dijon mustard, and olive oil. 4. Pour vinaigrette over shaved asparagus and add Parmesan cheese, salt, red pepper flakes, and black pepper. Toss to combine. Taste and adjust seasonings.
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