Ready, Willing And Able Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Ready, Willing And Able, written in plain English, along with examples of how it is used.
What is Ready, Willing And Able?
(n) Ready , willing and able is the phrase used to represent the state of person executing an agreement. An agreement to be legally enforceable it must be executed with out external influence by a person eligible to do it. So the phrase shows the legal validity of the contract to be signed.
History and Meaning of Ready, Willing And Able
The term "Ready, Willing And Able" is a legal phrase that is often used to refer to the state of a person who is executing an agreement. To have an enforceable agreement, it must be executed by a person who is eligible to do so and without any external influence. This phrase indicates the legal validity of the contract that is to be signed.
The term has a long history of use in the legal field, dating back to at least the 19th century. It has been used in various legal contexts over the years, including in employment contracts, real estate transactions, and business agreements.
Examples of Ready, Willing And Able
- The seller of a property assures the buyer that they are ready, willing, and able to complete the sale.
- An employer requires a job candidate to demonstrate that they are ready, willing, and able to perform the job duties before offering them employment.
- A business owner seeks investors who are ready, willing, and able to invest a certain amount of money in their company.
Legal Terms Similar to Ready, Willing And Able
- Meeting of the minds - a legal doctrine that requires both parties to have a clear understanding of the terms of an agreement before it can be enforceable.
- Consideration - something of value that is exchanged between parties to a contract, often a form of payment.
- Competent parties - individuals who are legally eligible to enter into a contract and have the mental capacity to understand the terms of the agreement.