Viable Agreement Meaning

When it comes to legal documents and contracts, understanding the terminology and language used can be crucial to avoid misunderstandings and potential legal disputes. One term that may come up in a contract or agreement is « viable agreement. »

A viable agreement can be defined as a legal agreement or a contract that is valid, enforceable, and can be executed by both parties involved. This means that it is a binding agreement that holds both parties responsible for fulfilling their obligations as outlined in the agreement.

The term « viable » implies that the agreement is workable, feasible, and practical. It must be drafted in a way that is clear, concise, and unambiguous to avoid any confusion or misunderstandings.

A viable agreement may also include clauses such as termination or non-compete clauses, which can further protect the interests of both parties involved.

For an agreement to be considered viable, it must meet specific criteria. Firstly, it must have a lawful purpose, which means that the agreement must not violate any existing laws or regulations. Secondly, both parties must have the legal capacity to enter into an agreement, which means that they must be of legal age, mentally competent, and not under duress or undue influence.

Additionally, a viable agreement must be based on mutual assent, which means that both parties must give their consent willingly and without coercion. The terms and conditions of the agreement must also be sufficiently clear and unambiguous to avoid any confusion or misunderstandings.

In conclusion, a viable agreement refers to a legally enforceable contract or an agreement that is valid, workable, and can be implemented by both parties. It must meet certain criteria such as a lawful purpose, mutual assent, and clarity to be considered legally binding. As a copy editor, it is essential to ensure that contracts and agreements are clear and unambiguous to avoid any potential legal disputes.