Freight Contracts Pt 1 of 3

Freight Contracts Pt 1 of 3

8/24/2014 Umut Türker 2095 Times Read

I love blogging, and I love It has many great and informative articles. I found and read the posts about "How to Negotiate Freight Contracts". These certainly are very useful, helpful and relevant posts and I do encourage everyone to read them. But what is a freight contract? I ought to mention at the outset that I am not a lawyer. However, I do not need to be as I am not providing advice. I am simply disseminating factual information so that you can be more informed, much as sports commentators relate sporting events, and editorial writers write about politicians. I do acknowledge that some of this information can consist of different ideas, meanings and interpretations in different areas. For example, in Australia, a contract (see below) must have:


  1. Offer; 2) Acceptance; 3) Intention of legal consequences; and 4) Consideration in order for it to be legally binding.


Even here though, there can be disagreement as another source says that a contract must have more:


  1. Offer and acceptance; 2) Intention to create legal relations; 3) Consideration; 4) Legal capacity; 5) Consent; and 6) can not be illegal and/or Void.


In India, a contract must have: 1) Minimum of two parties; 2) Offer and acceptance; 3) Legal obligations; 4) Lawful considerations; 5) Competent parties; 6) Free consent; 7) Lawful object; 8) Not expressly declared void; 9) Certainty and possibility of performance; and 10) Legal formalities.


In the United States, contracts have to have; 1) Mutual assent (others say "offer and acceptance"); 2) Consideration; 3) Capacity; and 4) Legality.


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Of course, you do not necessarily have to know this. These are things that a lawyer would need to be aware of, and these will be a concern only if there is a disagreement or non-performance by one or more of the parties involved. I do believe that the following information is of the highest caliber, and I think that most lawyers would agree.

A freight contract is, in short, a contract. What is a contract? Wikipedia says that a "contract is