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Browse our 50 legal questions about Contract and the lawyer answers, or ask your own questions for free.
Contract law is the body of law that governs the creation, interpretation, and enforcement of agreements between parties. Contracts can be either written or oral and cover a wide range of personal and business dealings, such as sales, leases, employment, and more. At its core, contract law ensures that promises made in legally binding agreements are honored and provides remedies if they are broken. Key components usually include offer, acceptance, consideration, capacity, and legality.
There are many situations where it might be beneficial to consult with a contract lawyer:
While contract laws share similarities across different jurisdictions, there are nuances based on local laws:
A contract typically requires an offer, acceptance, intention to create legal relations, and consideration (something of value exchanged between the parties).
Yes, oral contracts can be enforceable, though they may be harder to prove in court than written agreements.
The non-breaching party may be entitled to remedies, such as damages, specific performance, or cancellation and restitution.
Terminating a contract depends on the terms specified within it or laws that apply; breach by one party, mutual agreement, or fulfilment of the purpose can be valid reasons.
While not always necessary, complex agreements or those involving significant sums of money may benefit from legal review.
This occurs when one party fails to fulfill its obligations under the agreement, either fully or partially.
Force majeure clauses may excuse parties from fulfilling contractual obligations due to unforeseen circumstances beyond their control.
Yes, if all parties agree to the modifications, a contract can be changed after it has been signed.
Consideration refers to what each party stands to gain or lose within the agreement, often seen as the value exchanged.
Common defenses include incapacity, duress, undue influence, fraud, and mistake.
Here are some resources that could be helpful:
If you require legal assistance with a contract, consider these steps:
