Law of Contracts
/ˈlɔː əv ˈkɒntrækts/
Definitions
- (n.) The body of law governing legally enforceable agreements between parties including their formation, performance, breach, and remedies.
The law of contracts requires offer, acceptance, and consideration to form a valid agreement.
Forms
- law of contract
- laws of contracts
Related terms
See also
Commentary
Often used interchangeably with contract law, but 'law of contracts' emphasizes the principles and rules governing contractual obligations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.