Understanding Ready Willing and Able: A Legal Perspective
Definition & Meaning
"Ready, willing, and able" is a legal term that indicates a party's preparedness to fulfill their obligations under a contract. It signifies that an individual or entity is not only prepared to act but also has the necessary capacity and intention to perform the required services or duties. This phrase is often used in contract law to establish that a party is in a position to execute the terms of an agreement without delay or hindrance.
Legal Use & context
This term is commonly used in various legal contexts, particularly in contract law. It serves to affirm that a party is capable of meeting their contractual obligations. Situations where this term may apply include:
- Real estate transactions, where a buyer must be ready, willing, and able to purchase a property.
- Employment contracts, where an employee must demonstrate readiness to fulfill job duties.
- Service agreements, where a service provider must be prepared to deliver services as stipulated.
Users can manage some of these situations using legal templates available through US Legal Forms, which are drafted by qualified attorneys.
Real-world examples
Here are a couple of examples of abatement:
Example 1: A buyer who has secured financing and is prepared to close on a property can be described as ready, willing, and able to complete the purchase.
Example 2: A contractor who has the necessary materials and workforce available to start a project immediately is considered ready, willing, and able to perform the contracted work.