Without consideration, the above scenario is simply a promise that the courts may not enforce. Similarly, if John mistakenly thought Jane wanted the '72 Diplomat and he did not want to sell the Volvo, the Courts would not enforce the contract due to a lack of mutual intent and clarity of the terms. When you buy something at a store, you enter into a verbal contract. Some contracts must be in writing. Many types of contracts are not required to be in writing, however, putting any contract in writing is useful to clarify issues, increase the certainty of the terms and is good evidence as to what the agreement between the parties actually was, should a dispute arise.
Many businesses regularly rely on standard form written contracts.
These pre-designed contracts come with blank spaces for entering information such as customer names and specific prices or product details. It is wise to have a lawyer draft or review the standard form contracts that you use, as standard forms should usually be changed to fit the business unique requirements. If you enter into a contract with a minor, you may not be able to enforce the contract. In the Province of Alberta, a minor is a person under the age of 18 years. On the other hand, the minor can enforce the contract against you if you enter into a contract with them.