Review your next contract with confidence get a firm understanding of contract formation, essential terms and enforcement.
Contracts govern the basic business and commercial relationships for most of us yet for many the basics of contract law remain a mystery. There is often misinformation about such simple questions as Is a handshake enough or do all the boilerplate terms of a contract really matter? This topic will address these and many more issues surrounding the formation and enforcement of contracts.
What Is a Contract?
‚Ä¢ Basic Elements
‚Ä¢ Oral or Written
‚Ä¢ Must Be Definite
‚Ä¢ What Is Not a Contract?
How Are Contracts Made?
‚Ä¢ Agreement on Terms
‚Ä¢ Written Contracts
‚Ä¢ Oral Contracts
‚Ä¢ Invoices, Purchase Orders and Other Forms
Why Are Contracts Legally Enforced?
‚Ä¢ Benefit or Bargain
‚Ä¢ Purpose Legitimate
‚Ä¢ Your Word Is Your Word
Do All Terms in a Contract Matter?
‚Ä¢ Price and Quantity
‚Ä¢ Implied Terms
Sean R. Smith with Taylor English Duma LLP
NALA ,NFPA ,Paralegals ,Additional credit may be available upon request.