Practical concepts in Contract Law
AbstractA contract is a legally binding exchange of promises or agreement between parties that the law will enforce. Contract law is based on the Latin phrase pacta sunt servanda (literally, promises must be kept) . Breach of a contract is recognised by the law and remedies can be provided. Almost everyone makes contracts everyday. Sometimes written contracts are required, e.g., when buying a house . However the vast majority of contracts can be and are made orally, like buying a law text book, or a coffee at a shop. 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).
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 10077.
Date of creation: 14 Aug 2008
Date of revision:
contract; important concepts; legal analyse; comparative;
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- K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
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