Sometimes it feels good to get rid of clutter. Cleaning out papers we have kept for years is a good project. But there are some guidelines to be aware of before you put a pile of papers on the scrap heap. Individual circumstances guide the exact documents that should be retained, but there are some general rules to be familiar with.
The requirement of a valid contract can be complex. There are multiple elements that go into a valid contract, read the guide for more info. How do you define a contract? A contract is essentially an agreement between at least two parties creating mutual, legally enforceable obligations. Agreements can be written or oral. Both types are enforceable by law in the right circumstances, although the law requires some arrangements such as real estate purchase contracts to be in writing.