Contracting Parties

Contracting parties are the individuals or entities that enter into a legal agreement or contract. Each party agrees to specific terms and conditions, outlining their responsibilities and rights related to the agreement. In any contract, there are typically two or more contracting parties, such as a buyer and a seller. For the contract to be valid, all parties must have the capacity to agree, and their consent must be genuine. The agreement holds legal significance, meaning that the parties can seek enforcement through the legal system if the terms are violated.