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Vijay.
Vijay.-
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arahnsathananthan
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Hi Vijay
I hope you are well. What is the difference between a simple and a specialty contract.
I hope you can answer this soon as I am having trouble finding answers to this.
arahnsathananthan
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Can someone please let me know the answer? I have waited for a week now 🙁
Vijay
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Hi Arahnsathananthan,
Apologies for the delay.
A simple Contract is for example basic agreements like if I agree to see you my car. This agreement could be oral or may be in writing signed by you and me.
A specialty contract is a more important contract where there is more at stake for example a mortgage. Because it is more important it needs to always be in a formal written format and can not be oral. Most specialty contracts tend to be “Deeds” which need to not only be signed but also witnessed so there is more formality. Another example of a deed/specialty contract is a will.
I hope this helps?
Kind regards,
Vijay
arahnsathananthan
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Thankyou so much Vijay. Sorry for my impatience , but it helps to clear doubts quicker. I appreciate you replying to me today.
Vijay
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My pleasure 🙂
arahnsathananthan
Vijay
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