What are the basic principles of contract law? Because the law requires contracts to be recorde SHSU regards form as a principle of contract law. Within the United States, a contract requires an offer , an acceptance , and consideration in order to be documented as a valid contract. CONTRACT INTERPRETATION ������� The key to contract interpretation is to give effect to the intent of the parties as expressed in their agreement.
A contract is an agreement giving rise to obligations which are enforced or recognised by law. The first requisite of a contract is that the parties should have reached agreement. General principles of contract formation are used to determine whether the parties intended to form a binding agreement. Captions and Section Headings. Instant Downloa Mail Paper Copy or Hard Copy Delivery, Start and Order Now!
In some states, element of consideration can be satisfied by a valid substitute. Possible remedies for breach of contract include general damages , consequential damages , reliance damages, and specific performance. There must be an offer and an acceptance with a definite agreement between the parties. Except in very limited circumstances there can be no contract or agreement without consideration. Competent parties (S.11).
Offer(S.2(a),6. Acceptance(2(b),8. (more…)