Voluntary Agreements
Voluntary agreements, whether made orally or in writing, can be used in almost any setting. Examples include prenuptial agreements, loan contracts and business arrangements. These agreements are typically upheld in court if the plaintiff can show that the agreement was made with full consent and not under any kind of duress.
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Prenuptial Agreements
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Prenuptial agreements are a common type of voluntary contract. In these instances, couples planning to marry can determine what terms they wish to have in that legal arrangement. Stipulations can also be made regarding assets, debts and alimony in the event of a divorce or separation.
Loan Contracts
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Voluntary agreements can be made when loans are negotiated between two parties. These contracts can be as simple as a written and notarized letter between family members exchanging funds. They can also be as complex as a mortgage on a house -- in this instance, the agreement is drawn up by the bank or mortgage company.
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Business Deals
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Voluntary agreements are very often used in business dealings where written contracts are typically the norm. Unlike prenuptial or loan agreements, however, legal and ethical standards may have to be met to have the contract upheld in court, should such action be necessary.
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References
- Photo Credit signing a contract image by William Berry from Fotolia.com
