The postal rule is an exception to the general rule that contract acceptance must be communicated directly to the offeror and acceptance is only effective when the offeror receives that acceptance. The acceptance is actu... More »

There are a number of rules of consideration that revolve around legal contractual agreements. Although the rules are not necessarily enumerated, the give-and-take promises made by two parties in a contract must be outli... More »

A 30-day wash rule is an Internal Revenue Service rule that prevents a taxpayer from claiming a loss on an investment 30 days before or after the deposition or sale of the security, explains Investopedia. The law does no... More »

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The four elements of a contract are an offer, an acceptance, a consideration and an intention of legal consequences. An agreement has to contain all four to be regarded as a contract. It ceases to be legally binding if i... More »

The three essential elements of a contract are the offer, the acceptance and the consideration. A contract can contain other elements, but these three are what must be contained in the contract to ensure it is legal and ... More »

In law, a limited liability partnership, or LLP, stands for a partnership in which members have protection from personal liability with the exception of the total investment in their LLP. This general partnership offers ... More »

Under New Mexico state law, an individual must submit an application and acceptance form to the court along with an original death certificate and letters of administration to open a probate case, according to the Bernal... More »

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