Contract law easy definition

  • Elements of contract

    A contract is a legally enforceable agreement between parties, which contains mutual rights and obligations.
    In order for a contract to be binding between parties, the formalities of a contract must be met..

  • Types of contracts in law

    A contract is a legally enforceable agreement between parties, which contains mutual rights and obligations.
    In order for a contract to be binding between parties, the formalities of a contract must be met..

Contracts are legally enforceable agreements between two or more parties. Contracts often involve the exchange of money for goods or services. A contract can be either written or oral.

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