A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty. A legally enforceable contract requires the following elements, all of which ...

When two or more people strike a bargain, and each party to the agreement promises to give something up in order to get something else in return, those individuals have created what is known as a ...

Familiarity with contract law is especially critical for small-business sole proprietors and partnerships. Unlike in a limited liability company or corporation, a signed contract legally binds both ...

Legal precedent comes from court decisions where judges are asked to interpret the law, and once a court rules on an issue, legal precedent becomes the law. This means that legal precedent and ...