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Parties who are competent to enter into a contract. For example, a mentally disabled person could not enter into a contract.For example, many businesses will put a standard contract template before an independent contractor and expect it to be signed without any discussion. If the parties do sign different copies of the contract, they must agree that each of their signature pages together constitute a complete executed agreement. The agreement is the first step toward creating a formal deal, and due to its tentative nature can often be renegotiated or reneged.