You and your business are still liable if you’ve signed a contract for which you haven’t understood the details. To that end, every party is responsible for reading - and understanding - the terms of a contract. It goes without saying (we hope!) that an offer should never include illegal goods, services, or interfere in basic protections. Naturally, these parties are also responsible for signing. If the lunch-table serviette had these three components, the multi-million soccer contract could have legally stood up in court.įrom the offer, to acceptance, and consideration, every party who is responsible for upholding the terms should be involved. But for a contract to be legal, it technically only need three components : Ultimately, he went on to sign a written contract. In the early 2000’s, a young soccer player, Lionel Messi, signed to a major soccer league just this way, relays FindLaw.
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