The agreement must not be prepared or approved by a lawyer. If that were the case, every time we bought something from a store, we would need a lawyer in tow. Contract law also stipulates that anyone with a contract must have a contractual capacity, i.e. have reached the legal age to do so and be in good health at the time of signing the contract. Offers that are subject to an expiry date – so-called option agreements – are usually priced or give the buyer the option to reject the decision without fear of losing a competing buyer. It is important to understand that a seller can charge a fee for option agreements. For example, if you decide to give a buyer 30 days to consider a purchase, you can charge for it. This usually occurs when the product or service is of great value or when the seller promises not to sell this product to another customer during this 30-day option period. Similarly, a seller may revoke the offer only after the 30-day period has expired. If there is a binding contract between the parties and, if so, what conditions depend on what they have agreed. If the undertaking contained in the contract cannot be applied by a court, it is usually because the contract does not contain the necessary elements, making it an unenforceable promise or a non-binding contract. A legally binding contract is therefore a valid contract under national law and federal treaty law. The legally binding term refers to the requirement that both parties to the contract must comply with the terms of the contract and fulfil their contractual obligations in accordance with the state of the contract.