AFFIDAVIT

An affidavit is a voluntary, sworn statement made under oath, used as verification for various purposes. The statement
is witnessed and signed by a notary public or other law official authorized to do so. Once signed, the document is
legally binding and the person signing is subject to being charged with perjury if the affidavit contains false
information.

A written statement of facts, sworn to and signed by a deponent before a notary public or some other authority having
the power to witness an oath.

Types of Contracts

In connection with contracts, there are four types of classifications. Types of contracts in contract law are as
follows;

On the basis of Formation,

On the basis of Nature of Consideration,

On the basis of Execution and

On the basis of Validity.

Types of Contracts on the basis of Formation

On this base Contracts can be classified into three groups, namely Express, Implied, Quasi Contracts.

Express Contracts: The Contracts where there is expression or conversation are called Express Contracts. For example:
A has offered to sell his house and B has given acceptance. It is Express Contract.

Implied Contract: The Contracts where there is no expression are called implied contracts. Sitting in a Bus can be
taken as example to implied contract between passenger and owner of the bus.

Quasi Contract: In case of Quasi Contract there will be no offer and acceptance so, Actually there will be no Contractual
relations between the partners. Such a Contract which is created by Virtue of law is called Quasi Contract.

Types of Contracts on the basis of Nature of Consideration

On this base, Contracts are of two types. Namely Bilateral Contracts and Unilateral Contracts.

Bilateral Contracts: If considerations in both directions are to be moved after the contract, it is called Bilateral
Contract.

Example: A Contract has got formed between X and Y on 1st Jan, According to which X has to deliver goods to Y on
3rd Jan and Y has to pay amount on 3rd Jan. It is bilateral contract.

Unilateral Contract: If considerations is to be moved in one direction only after the Contract, it is called Unilateral
Contract.

Example: A has lost his purse and B is its finder. There after B searches for A and hands it over to A. Then A offers
to pay Rs. 1000/- to B to which B gives his acceptance. Here, after the Contract consideration moves from A to B
only. It is Unilateral Contract.

Types of Contracts on the basis of Execution

On this base Contracts can be classified into two groups. namely, Executed and Executory Contracts. If performance
is completed, it is called executed contract. In case where contractual obligations are to be performed in future,
it is called executor contract.
Types of Contracts On the basis of Validity

On this base Contracts can be classified into 5 groups. namely Valid, Void, Voidable, Illegal and Unenforceable
Contracts.

Valid: The Contracts which are enforceable in a court of law are called Valid Contracts. To attain Validity the Contract
should have certain features like consensus ad idem, Certainty, free consent, two directional consideration, fulfillment
of legal formalities, legal obligations, lawful object, capacity of parties, possibility of performance, etc.

Example: there is a Contract between X and Y and let us assume that their contract has all those above said features.
It is Valid Contract.

Void: A Contract which is not enforceable in a court of law is called Void Contract. If a Contract is deficient in
any one or more of the above features (Except free consent and legal formalities). It is called Void Contract.

Example: there is a Contract between X and Y where Y is a minor who has no capacity to contract. It is Void Contract.

Voidable: A Contract which is deficient in only free consent, is called Voidable Contract. That means it is a Contract
which is made under certain pressure either physical or mental. At the option of suffering party, a voidable contract
may become either Valid or Void in future. For example: there is a Contract between A and B where B has forcibly
made A involved in the Contract. It is voidable at the option of A.

Illegal: If the contract has unlawful object it is called Illegal Contract.

Example: There is a contract between X and Z according to which Z has to murder Y for a consideration of Rs. 10000/-
from X. It is illegal contract.

Unenforceable: A contract which has not properly fulfilled legal formalities is called unenforceable contract. That
means unenforceable contract suffers from some technical defect like insufficient stamp etc. After rectification
of that technical defect, it becomes enforceable or valid contract.

Example: A and B have drafted their agreement on Rs. 10/- stamp where it is to be written actually on Rs. 100/- stamp.
It is unenforceable contract.

Void Contracts and Illegal Contracts

All illegal Contracts are void, but all void contracts are not illegal: An illegal Contract will not be implemented
by court. So, illegal contract is Void. A void contract may not be illegal because its object may be lawful.

The Contracts which are collateral to illegal contract are void, But the contracts which are collateral to Void contract
may be Valid: An illegal makes not only itself Void but also the contracts connected to it. But a contract collateral
to void contract may attain Validity because object of main contract is lawful.

Void Contracts and Voidable Contracts

Becoming Valid: A Voidable Contract may become Valid at the option of suffering party. But a Void Contract can never
and never become Valid.

Third Party Rights: In case of Voidable Contracts third party may attain rights on concerned property, If the third
party gets the property before the Voidable Contracts gets declared as Void. But in case of Void Contract third party
cannot get any right.

A contract is a legally binding or valid agreement between two parties. The law will consider a contract to be valid
if the agreement contains all of the following elements:

offer and acceptance;

1. an intention between the parties to create binding relations;

2. consideration to be paid for the promise made;

3. legal capacity of the parties to act;

4. genuine consent of the parties; and

5. legality of the agreement.

An agreement that lacks one or more of the elements listed above is not a valid contract.

Jurats

A jurat is used when the signer is swearing to the content of the document. The notary must administer an oath or
affirmation to the signer in order to complete the jurat. A jurat also requires that the signer signs in the presence
of the notary. It is possible to glean this information from the jurat certificate its self. The wording states
Subscribed and sworn to before me subscribed meaning signed and sworn meaning that an oral oath or affirmation
was given. Before me means that both were done in the presence of the notary public.

Acknowledgements

An acknowledgement is used to verify the identity of the signer and to confirm that they signed the document. They
are not swearing to the truthfulness or validity of the document, they are simply acknowledging that they signed
the document.

Special Power of Attorney

The word power of attorney and they usually understand that it is a document to let someone sign or make decisions
on your behalf. Many clients are concerned to give to much power to one person with respect to their own affairs.
The solution may be a specific power of attorney or special power of attorney. This type of power of attorney gives
special or specific powers to someone. Both a specific and a special power of attorney only give limited powers to
your attorney. The specific or special power of attorney can be as focused and limited as you want it to be. If you
still need more information after reading this, call the lawyers at Kahane Law Office in Calgary for more
help. 403-225-8810.

Why Use A Special Power of Attorney

A special power of attorney is used when you have a specific matter that you need someone to act on your behalf for.
Frequently, a special power of attorney is used when the person who has to act, make a decision or sign paperwork
is not available. This occurs when the person giving the POA is:

Away on vacation

Away on business

Will be unable to travel to where a transaction is taking place

Will be too busy to attend the specific location

Types of limits on a Special POA

There are two types of limits generally set for a specific or special power of attorney. These two limits are generally
related to:

Time Limits of a Special POA

Time limits can be set in a special POA. In these situations the POA may be general as to a wide range of powers
a person has. This special power of attorney may then limit for how long the attorney has that power for. For example,
if the person giving the power will be on vacation for a week, the special power of attorney may be specifically
set to only be valid for that specific one week period.

Legal Limits To A Power of Attorney

There are also legal limits to any power of attorney. For example, your attorney cannot sign a will for you. They
also cannot use your power of attorney to make decisions for someone who gave you power of attorney for themselves.
It is important to talk to a lawyer to fully understand what you can and cannot do with a POA so that you do not
become unavailable with the false sense that everything is taken care of.

Power Limits of A Special Power of Attorney

More frequent, there are specific limitations to a special power of attorney. These limitations usually limit the
scope of what a person can make decisions for. There is no limit as to how specific or limited the power in a special
power of attorney is. By defining the powers very tightly, the POA will only be able to be used in a very limited
fashion. This provides reassurance that the POA will not be abused for other reasons. To give someone the ability
to deal with anything that you would be able to, you would need a general power of attorney. We have more information
on general power of attorneys on YouTube.

Common Uses For A Special Power Of Attorney

While a specific power of attorney can have a very diverse range of uses, the most common uses of a specific or special
power of attorney include:

Selling real estate /real property / land

Buying real estate / real property / land

Mortgaging or financing real estate / real property / land

Making financial decisions

Managing assets

Managing a business or company

Paying off debts

Collection of money owed

Signing of agreements or contracts