28 Feb 2007 Saying a contract is valid means it's legally binding and enforceable. In sales agreements, for example, in addition to names, "seller" and "buyer" are sometimes used to further describe the parties. It may be something that is or isn't done or given. Terms of Use Privacy Policy Cookies Policy Site Map. provide any legal advice and should not be taken as such. EDC | Commercial Contract Terms. 3. Table of Contents. 4 Basic Commercial Contract ensure they have taken all necessary steps to ensure that their contract is legally binding . For example, are there specific amounts for design, goods, training, etc. 12 Mar 2018 In short, terms in a contract must be agreed, either verbally or by for a valid contract there must be the following: an intention to create legal As a general rule, an employment contract does not need to be signed for it to be a binding For example, an employee carrying out work at the specific place,