Contract - Abstract A contract is a written agreement which binds two or more parties legally A contract is a branch of the law of obligations in

Contract - Abstract A contract is a written agreement...

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Abstract A contract is a written agreement which binds two or more parties legally. A contract is a branch of the law of obligations in jurisdictions of the civil law tradition. The law of contract is a law based on the facets of running a business. The law provides an adequate remedy in the event of a breach of contract. In this case, the law may be enforced in adherence to the contract law and also the letter of agreement between the parties. Introduction In the event of an agreement between two parties, a contract acts as a binding force. There are various factors which determine the signing of a contract between parties. These factors include an agreement, acceptance, consideration, intention, form, capacity and legality. Concerning capacity, the law states that some certain people lack capacity when it comes to the signing of a contract. Minors (persons under the age of 18), intoxicated persons, and mentally challenged people are considered not eligible to enter into a contract. Memorization in writing is essential in the singing of some contracts. In this essay, I will outline the essentials of contract and illustrate the answer by referencing to decided cases.
Agreement The first prerequisite of any contract is a written agreement which includes an offer and an acceptance letter. An offer is a promise made in absolute terms by the

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