Blog: Contracts

Attorney Howard N. Sobel Successfully Appeals Lower Court Decision

Nov 6, 2024

Appellate Court Overturns Adverse Ruling Attorney Howard N. Sobel has successfully appealed a ruling in a case involving the discharge of a receiver by a lower court. On October 31, 2024, the Superior Court of New Jersey, Appellate Division, issued an opinion in the matter of Parke Bank v. Voorhees Diner Corporation, et al, reversing the Law Division’s discharge of a court-appointed statutory receiver. The appellate court remanded the case to the Law Division for...

Is an Oral Business Contract Enforceable in New Jersey

Sep 30, 2024

Can You Enter a Binding Agreement Without Putting It in Writing? Under the laws of New Jersey, there are five requirements for a binding and enforceable contract: An agreement by at least two parties—In legal terms, there must be an offer and an acceptance of that offer. Consideration—This legal term means that each party to the agreement must either give something of value or promise to refrain from doing something they have a legal right...

Are Oral Contracts Valid and Enforceable?

May 10, 2021

Does a Legal Agreement Need to Be in Writing? In an earlier blog, we discussed the basic requirements of a valid and enforceable contract: There must be an offer and an acceptance, known legally as an agreement. There must be consideration, which means all parties must give something of value in the bargain. The contract must be for a legal purpose. You cannot enter a contract to commit an illegal act. Each party must have...

What Are the Fundamental Requirements to Create a Contract?

Apr 7, 2021

What Constitutes a Valid Offer to Enter into a Contract? There’s a common misperception that, in order to be binding, a contract must be in writing. In fact, many types of oral agreements are fully enforceable in a court of law, but that’s a topic for another blog. However, if an oral contract can be binding, how can you know if you make an enforceable promise during a conversation? Minimal Requirements for Creating a Contractual...

Understanding Wrongful Discharge

Mar 7, 2019

When Is Termination of Employment Illegal? Your job is one of the most important parts of your life. It brings self-esteem and provides you with the resources to take of yourself and your loved ones. Few things can be more devastating than getting fired. When that happens, one of the first questions you need to ask is “was the termination legal?” Employment at Will To understand wrongful discharge, you also need to understand the concept...

The Requirements for a Valid and Enforceable Contract

Mar 7, 2017

Most of us enter into some type of contract almost every day…most are oral agreements based on performance. But there are specific requirements for any contract to be enforceable in a court of law. There Must Be a Bargain A valid contract requires at least two parties, though there may be more. The law requires that there be an offer and acceptance of that offer. An offer may be oral or it may be in...