CONTRACTS LAW - The Laws of Forming and Enforcing an Agreement
Contracts are legally enforceable agreements between two parties. Contract law is designed to determine when a contract exists, if a party has breached the contract, and what damages are owed in contracts law cases. Often, contracts are very complex depending on the situation and nature of the deal. Parties with questions about contracts law including formation, breach, or enforcement, should work with an experienced contracts attorney.
Contracts law will generally attempt to determine what the parties agreed to at the time they both mutually agreed on a deal. Unless the law says otherwise, parties do not need to actually write anything down to have a binding contract, although doing so makes proving terms of an agreement much easier should there be a contract dispute. Cases disputing the issue of contract formation can range from disputing a contract exists to arguing about the terms of the deal between the parties. Courts typically attempt to avoid interfering with a person's right to contract, and as such often defer to the terms parties can prove when resolving a contract dispute. Contract formation is extremely important as it will bind parties to what they agree to, and any party to a contract should work with a contracts attorney prior to finalizing a deal.
Contract Law Cases
If a party breaches a contract by failing to perform, withdrawing from an agreement, or performing the contract incorrectly, a contract dispute may arise. Contract law cases will require the parties to figure out what has gone wrong, who is at fault and why, and what damages are owed. Typically, this is done in a settlement agreement, but courts will also determine damages owed should the parties be unable to resolve their problems. A contracts law attorney is critical in a contract law dispute as they can defend a client accused of breach, represent a client seeking performance, and argue for proper damages owed for the agreement failing.