We are still discussing the ways in which a contract can be voided under Texas law. This once again is part of the general overall discussion of what happens when a person is a co-signer on a document. As discussed, when a person is a co-signer, he is responsible for payment of the contract (note).
One of the most basic aspects of contract law is called the "statute of frauds." This means that for certain contracts, the contract has to be in writing. You cannot have an oral contract for certain types of contracts. Examples of this are contracts for real property, leases of one year or more and loan agreements. These must be in writing.
Although this is somewhat esoteric, it is part of the thread that some contracts can be voided. We will move on with the thread involving being a co-signer on contracts.
One of the most basic aspects of contract law is called the "statute of frauds." This means that for certain contracts, the contract has to be in writing. You cannot have an oral contract for certain types of contracts. Examples of this are contracts for real property, leases of one year or more and loan agreements. These must be in writing.
Although this is somewhat esoteric, it is part of the thread that some contracts can be voided. We will move on with the thread involving being a co-signer on contracts.
NOTE: THE INFORMATION IN THIS BLOG IS NOT LEGAL ADVICE NOR
IS IT INTENDED TO BE LEGAL ADVICE. IF
THE READER HAS ANY LEGAL QUESTIONS, PLEASE REFER TO AN ATTORNEY.
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tausk
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