As A Legally Binding Agreement
Parties may claim damages if one of the parties does not meet the requirements of the treaty. The reason why these agreements become legally binding and enforceable despite their derogation from traditional treaties is that they are accessible. You establish legally binding agreements by making sure that your users are aware of them and have the opportunity to verify them. So you can make it work for your website, app or any other online service. For a contract to be binding, it must be strengthened by a valuable consideration. This means that one party promises to do something in exchange for the other party`s promise to provide a value benefit (the consideration). The consideration is in fact a trust agreement between the parties as agreed price for the promises of the other parties. This is generally accepted in terms of monetary values, but this is not always the case; Everything can have value, including the promise to do nothing or to refrain from exercising a right. For a contract to be legally binding and binding, the purpose of the contract must be legal and respect the possible rules.
You can create a contract with your colleague to rent your boat, but not to use your boat in the commission of a crime.