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Legal Documents And Filing Systems

Legal Documents And Filing Systems






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    Legal Documents And Filing Systems Legal Documents And Filing Systems Presentation Transcript

    • Legal Documents and Filing Systems
    • Contracts & Agreements
      • A contract is a legally enforceable agreement between two or more parties to do or not to do something.
      • Common legal contracts include
      • credit plans
      • mortgages
      • rental agreements
      • Express agreements can be oral or written; what makes them express is that the terms have been agreed upon between the parties in words.
      • Be sure you read everything contained in an agreement before you sign it.
      • Implied agreement – unwritten agreement
      • Example: When you drive your car you agree to obey traffic laws, drive in a safe and responsible manner, and observe rights of others.
    • Elements of Enforceable Contract Agreement Consideration Contractual Capacity Legality Genuine Assent Legal Form
      • Agreement
      • A contract has mutual assent
      • when an offer is made and accepted.
      • If a person makes an offer and the other person changes it, he has made a counteroffer. The counteroffer is now a new offer and can be accepted or rejected.
      • Consideration
      • Consideration is anything of value exchanged as part of a contract. It may be an object of value, money, a promise, or a performed service.
      • Contractual Capacity
      • A person must be competent to enter into a contract.
      • A person cannot be a minor (under 18).
      • A person cannot have a mental deficiency or illness.
      • Legality
      • To be enforceable, contract must be lawful. Without a lawful object, the agreement has no binding effect on a person.
      • Genuine Assent
      • A person cannot use misrepresentation, a mistake, duress, or undue influence to force another to enter a contract.
      • Misrepresentation is called fraud and contains:
      • misrepresentation of a material fact with
      • the intention to deceive;
      • The innocent party has justifiably relied on this misrepresented fact and
      • has been injured (damaged) as a result.
      • Duress is the use of force or fear to make a person enter into a contract.
      • Undue influence arises from special relationships (such as guardianship) in which one party’s free will is overcome by the other.
    • Negotiable Instruments
      • Negotiable Instruments – an unconditional written promise to pay a specified sum of money upon demand of the holder.
      • Example: Checks and promissory notes.
    • Negotiable instrument is legally collectible if the following conditions are met:
      • It must be in writing (not oral) and signed by the maker.
      • It must contain an unconditional promise to pay a definite amount of money.
      • It must be payable on demand or on a fixed future date.
      • It must be payable to the order of a particular person.
      • It must be delivered to the payee.
    • Filing System for Personal Records
      • Filing system includes folders and labels and a file cabinet.
      • Have folders for different categories. Name folders with a descriptive word or short phrase that tells you immediately what records it contains.
      • File folders alphabetically.
    • Automobile Entertainment Household Insurance Medical Taxes Travel Utilities Automobile Others: Subscriptions, Warranties, ????
      • Electronic Record Keeping
      • You may use home computer and spreadsheet software program (Microsoft Excel) to help keep records.
      • Spreadsheet software organizes data in columns and rows and can perform calculations using the data.
      • Database organizes data for easy search and retrieval. (Microsoft Access)
      • That’s All Folks!