Legality of purpose is the concept that a contract may be enforced even if its terms are against the law or public policy.
What Does Contract Law Mean by Legality of Purpose?
- The terms and conditions of legal documents that are enforceable and legally binding constitute the validity of purpose in contract law.
- They frequently include commitments and conditions that were mutually agreed upon.
- Every enforceable contract must have a purpose that is legal.
- According to the insurance principle known as "legal purpose," insurance contracts that cover things that are illegal or entail illegal terms are invalid.
- For instance, a liability insurance policy for a business engaged in bank robberies would not be acceptable. None of the asserted claims would be enforceable in court.
What does the term "Purpose" in a contract mean?
The term "purpose" refers to both the parties' intention to investigate developing a commercial connection in regards to the Project and their subsequent business action in that regard.
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