Friendsville Land Use & Zoning Lawyer, Maryland

A legally binding agreement involving two or more people or businesses (called parties) that sets forth what the parties will or will not do. Most contracts that can be carried out within one year can be either oral or written. Major exceptions include contracts involving the ownership of real estate and commercial contracts for goods worth $500 or more, which must be in writing to be enforceable. (See statute of frauds.) A contract is formed when competent parties -- usually adults of sound mind or business entities -- mutually agree to provide each other some benefit (called consideration), such as a promise to pay money in exchange for a promise to deliver specified goods or services or the actual delivery of those goods and services. A contract normally requires one party to make a reasonably detailed offer to do something -- including, typically, the price, time for performance and other essential terms and conditions -- and the other to accept without significant change. For example, if I offer to sell you ten roses for $5 to be delivered next Thursday and you say 'It's a deal,' we've made a valid contract. On the other hand, if one party fails to offer something of benefit to the other, there is no contract. For example, if Maria promises to fix Josh's car, there is no contract unless Josh promises something in return for Maria's services.

A member of the governing board of a corporation, typically elected at an annual meeting of the shareholders. Directors are responsible for making important business decisions -- especially those that legally bind the corporation -- leaving day-to-day management to officers and employees of the corporation. For example, a decision to borrow money, lease an office or buy real property would normally be authorized by the board of directors. However, in the small business world, where it is common for owners to be directors, officers and employees simultaneously, distinctions dividing the roles and responsibilities of these groups are often blurred.

The process of filing a copy of a deed or other document concerning real estate with the land records office for the county in which the land is located. Recording creates a public record of changes in ownership of all property in the state.

A promise that pledges nothing, because it is vague or because the promisor can choose whether or not to honor it. Such promises are not legally binding. For example, if you get a new job and promise to work for three years, unless you resign sooner, you haven't made a valid contract and can resign or be fired at any time.

Principles of international law so fundamental that no nation may ignore them or attempt to contract out of them through treaties. For example, genocide and participating in a slave trade are thought to be jus cogens.

The restrictions governing the use of real estate, usually enforced by a homeowners' association and passed on to the new owners of property. For example, CC&Rs may tell you how big your house can be, how you must landscape your yard or whether you can have pets. If property is subject to CC&Rs, buyers must be notified before the sale takes place.