Force majeure is a common provision or clause in contracts that frees involved parties from liabilities or obligations when an […]
Business and Economics
How to Write a Non-Disclosure Agreement
A non-disclosure agreement or NDA is a specific legal contract or a clause within a written contract that prohibits one […]
Parts of a Written Contract: Elements and Clauses
A legally binding written contract should not only meet the requirements or include all of the general elements of an […]
Meeting of the Minds: Understanding the Concept
The phrase “meeting of the minds” is a concept in contract law that represents not only the collective agreement between […]
Kinds of Contracts: From Manner of Creation to Validity
A contract represents a legally binding agreement between two or more parties. Note that there are different types or kinds […]
Elements of an Enforceable Contract
There are six recognized elements of an enforceable contract. Of course, as a backgrounder, a contract is a legally binding […]
IRAC Method: Definition, Application, and Criticism
The acronym “IRAC” stands for issue, rule, application, and conclusion. More than just an acronym, it specifically corresponds to a […]
Econ 101: The Difference Between Recession and Depression
Recession and depression are two terms used in economics to describe downturns in economic activities. Take note that although both […]
Difference Between Mission, Vision, and Value Statements
The mission, vision, and value statements of organizations are more than just public declarations of their identities, intentions, and positioning. […]
The Economy of Vatican City Explained
How does the economy of Vatican City work? What are the economic activities? How does it earn revenues? What are […]
