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Whether it is called a premarital, antenuptial or prenuptial agreement, these contracts are being used and litigated on an increasing basis. With divorce rates increasing and remarriage occurring equally as often, many couples feel the need to ensure all prior assets are secured in their name in case of a divorce. With this contract... more »
Contract law typically holds that a written contract, by virtue of existence, represents the entirety of the agreement. This renders inconsequential any terms or conditions that might have been delivered orally prior to the written contract. In order to incorporate any additional aspects of a written contract prior to its execution,... more »
Do you have a good eye for attractive people -- the ones that look great in person and even better in pictures? Do you find the idea of helping young men and women jump start their modeling careers to be the most fun you can imagine? You could be the ideal candidate for a career in model management. This high-flying profession is full... more »
A contract is a legal document binding two or more parties to its specific terms. One party agrees to do or give something to another party in exchange for a consideration, usually money. Contracts abound in employment, business and real estate, and once the parties sign an agreement, they are legally bound to its terms. However,... more »
In legal parlance, a contract is, according to dictionary.law.com, "an agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration." You enter into informal contracts everyday; for example, when a neighborhood teen mows your... more »
Working in the construction industry is for someone who is good at multitasking and who enjoys a fast-paced environment. When you become a... more »
Business contracts laws come into play in the course of your daily affairs more often than you might think. Just about all business transactions,... more »
Have you ever signed a contract, slept on it and then woke up the next day regretting your decision? Many people don't realize that they can void... more »
Most of life's major events involve the formation of a contract. Buying a car, renting an apartment, even entering into an employment agreement... more »
Breaking a service contract is a simple matter of not performing your obligations under the contract. But, breach of contract is a serious act... more »
In law, a contract is a binding legal agreement that is enforceable in a court of law. That is to say, a contract is an exchange of promises for the breach of which the law will provide a remedy.
Agreement is said to be reached when an offer capable of immediate acceptance is met with a "mirror image" acceptance (ie, an unqualified acceptance). The parties must have the necessary capacity to contract and the contract must not be either trifling, indeterminate, impossible or illegal. Contract law is based on the principle expressed in the Latin phrase pacta sunt servanda (usually translated "pacts must be kept", but more literally "agreements are to be kept").Hans Wehberg, Pacta Sunt Servanda, The American Journal of International Law, Vol. 53, No. 4 (Oct., 1959), p.775. Breach of contract is recognized by the law and remedies can be provided.
As long as the good or service provided is legal, any oral agreement between two parties can constitute a binding legal contract. The practical limitation to this, however, is that only parties to a written agreement have material evidence (the written contract itself) to prove the actual terms uttered at the time the agreement was struck. In daily life, most contracts can be and are made orally, such as purchasing a book or a sandwich. Sometimes written contracts are required by either the parties, or by statutory law within various jurisdiction for certain types of agreement. For example when buying a housee.g. In England, s. 52, Law of Property Act 1900 or land.
Contract law can be classified, as is habitual in civil law systems, as part of a general law of obligations (along with tort, unjust enrichment or restitution).
According to legal scholar Sir John William Salmond, a contract is "an agreement creating and defining the obligations between two or more parties".
As a means of economic ordering, contract relies on the notion of consensual exchange and has been extensively discussed in read more at » http://en.wikipedia.org/wiki/Contract
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