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Contract (view source)

Revision as of 05:40, April 10, 2007

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A contract is a promise made enforceable by law, usually because the beneficiary of the promise agreed to do something in return for it.
 
A contract is a promise made enforceable by law, usually because the beneficiary of the promise agreed to do something in return for it.
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The three basic elements of contract formation are:
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: an offer
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: acceptance
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: legal consideration
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Also, there must not be any defenses to contract formation.
    
A written contract concerning future performance usually includes these provisions:
 
A written contract concerning future performance usually includes these provisions:
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