Are simple contractor agreements legally binding?


Quick Answer

Simple contractor agreements must contain the agreement component and the consideration component to be legally binding, according to AllBusiness.com. Agreement occurs when one party offers to provide a product or a service, and the other party agrees. Consideration includes both parties agreeing on the offer and the terms of payment.

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Full Answer

Contract laws of individual states may differ somewhat, but the basic structure of a simple contractor agreement remains the same. The contract must state specifically what is required of all parties, according to the simple form displayed on Entrepreneur.com. Contractor agreements must be signed or orally agreed upon by individuals age 18 or over. Neither party must be under the influence of alcohol or drugs. Both parties must be mentally competent to understand and sign or orally agree to the contract.

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