OUT OF THE OFFICE NOTARY SERVICES, L.L.C. seeks to provide timely and affordable documents and notarization services. We are NOT attorneys, nor do we pretend to be. We CANNOT give legal advice, nor represent any particular party. Out of the Office Notary Services, L.L.C. will sometimes provide information regarding local/federal laws and laws/statutes of Louisiana. We have gathered the information from a variety of sources. It is your responsibility to know the legal consequences of the document(s) you are executing and having notarized and/or prepared by a notary.
The following information is only for fundamental EDUCATIONAL purposes regarding contracts and their contents. It is by NO MEANS meant as legal advice. Notaries are public servants and cannot represent any party. We will ALWAYS encourage parties to contact an experienced LEGAL PROFESSIONAL to discuss your options. Having said that, when both parties understand, agree and accept the contents of a contract, using an experienced Notary Public can be an extremely cost-effective way to prepare and/or execute your document.
CONTRACT
Requirements:
1. Capacity – The ability to legally consent to enter into an agreement.
2. Consent – The voluntary agreement to knowingly and willing assume certain obligation by a person.
3. Cause – The reason that a party obligates himself/herself.
4. Object – The actual action or thing which is the subject of the contract or obligation.
Types:
1. “unilateral contract” - A contract is unilateral when the party who accepts the obligation of the other does not assume a reciprocal obligation.
2. “bilateral or synallagmatic contract” - A contract is bilateral, or synallagmatic, when the parties obligate themselves reciprocally, so that the obligation of each party is correlative to the obligation of the other.
3. “onerous contract” - A contract is onerous when each of the parties obtains an advantage in exchange for his obligation.
4. “gratuitous contract” - A contract is gratuitous when one party obligates himself towards another for the benefit of the latter, without obtaining any advantage in return.
5. “commutative contract” - A contract is commutive when the performance of the obligation of each party is correlative to the performance of the other.
6. “aleatory contract” - A contract is aleatory when, because of its nature or according to the parties’ intent, the performance of either party’s obligation, or the extent of the performance, depends on an uncertain event.
7. “principal and accessory contract” - A contract is accessory when it is made to provide security for the performance of an obligation. Suretyship, mortgage, pledge and other types of security agreements are examples of such a contract. When the secured obligation arises from contract, either between the same or other parties, that contract is the principal contract.
Clauses:
A plethora of clauses can be in various types of contracts, such as:
1. “force majeure” - An event or effect that can be neither anticipated nor controlled. The term includes both acts of nature and act of people.
2. “confidentiality” – To not disclose certain documents, forms, procedures, policies, clients, etc.
3. “dissolution” – The cancellation of a contract, with the effect of annulling the contract’s binding force and restoring the parties to the situation that existed before the contract was made.
4. “rescind” – The right to cancel a contract with a specifically designated or legally defined term.
Of course, there are all sorts of restrictions, defenses, and violations to a contract. As noted, one should always seek the advice of an experienced legal professional.