Chapter 3 of 10All chapters
Chapter 3 of 10
Contracts
Agreement plus value.
Formation
Typically an offer, acceptance, something of value each way, and an intention to be legally bound. Most everyday contracts form without a signature or a document.
- Some contracts, such as land sales, must be written.
- Clicking accept generally forms a binding agreement.
Breach and remedies
The usual remedy is damages putting the wronged party where performance would have left them. Orders to actually perform are exceptional.