As we begin the year 2020, familiarize yourself with contracts to protect yourself and understand your agreement. Professor Richard Gershon reviews contracts for us: Contracts don't always need to be written out, but having them in writing makes the agreement clearer to all parties. Illegal contracts aren't enforceableContract = Promise and adequate considerationCounter offers negate previous offersUnder 21? NO CONTRACTA caller also learned you can disclaim an asset that is willed to you.