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Every Man's Own Lawyer.
AGREEMENTS AND CONTRACTS.
The legal name of an agreement is a contract; which is defined, an agreement upon sufficient consideration, to do, or not to do, a particular thing. If under seal, it is called a specialty; if not, an agreement by parol: the latter term including all agreements, both verbal and written, not under seal.
It is advisable in contracts to add a seal, as such are generally in law of a higher consideration. A written agreement can be more easily proved than a verbal one. A large proportion of lawsuits arise from a neglect to have agreements distinctly understood and clearly expressed.
A signature of initials or names with a lead-pencil is binding; so also a mark with a pen or lead-pencil, (especially if witnessed,) if a person cannot write his name.
Fraud entirely destroys all agreements; misrepresentations of important facts by one party entitle the other to refuse to be bound. When agreements are made for the sale of goods by sample, the goods delivered must correspond with the sample, or the buyer is not bound. An alteration in the date of an agreement destoys it.
When a person deposits in the post-office an acceptance of a proposition made through mail by another, the contract is thenceforth complete in law. · Agreements to do unlawful acts, or acts opposed to public policy, are absolutely void.
Agreements under seal import a valuable consideration, which need not be money. The test in law of a valuable consideration is some benefit to the party making the promise, or some injury to the party to whom the promise is