Category:Contract Law

From Riverview Legal Library Services

Basic Concepts

A contract is a legally binding agreement which recognises and governs the rights and duties of the parties to the agreement.[1] A contract is legally enforceable because it meets the requirements and approval of the law. An agreement typically involves the exchange of goods, services, money, or promises of any of those. In the event of breach of contract, the law awards the injured party access to legal remedies such as damages and cancellation.[2]

General