What is a Contract?

An agreement that includes a promise or set of promises that the law enforces or protects.

If a party is forced into a contract, the contract is not binding.

Other factors that affect the validity of a contract

Legal Capacity

the party against whom the contract is to be enforced must be:


Uniform Commercial Code

Laws drafted by members of the National Conference of Commissioners to encourage uniformity among state laws.

Always rely on the law adopted by the state in which you work.


For more information on compliance in the F&I office, contact EFG at 800-527-1984.

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