1. Home
  2. Legal
  3. Contract Law (Intro)
  1. Home
  2. All Topics
  3. Contract Law (Intro)

Contract Law (Intro)

 

Overview of Contract Law

Contract law concerns the legal principles governing the exchange of goods or services between individuals or businesses. This chapter will explore the sources of contract law applicable to the sale or exchange of goods or services. It will lay out the elements necessary to form a contract and each party’s duty of performance under the contract. It will examine key contract principles, such as performance, breach, enforceability, voidability, etc. It will lay out the generally applicable rules that courts employ when interpreting contracts. This includes rules about what terms or communications are considered to be part of the contract. Lastly, it explores the remedies available to parties who suffer harm as a result of another party’s breach.

VOCABULARY & CONCEPTS

 

  • Breach
  • Resolving a Breach
    • Compensatory (Actual) Damages
    • Consequential Damages
    • Liquidated Damages
    • Nominal Damages
    • Specific Performance
    • Rescission
     

 

Was this article helpful?

Related Articles

Add A Comment