Contracts

A contract is a formal agreement between two or more parties that outlines their rights and responsibilities. It can be written, spoken, or implied by actions. For a contract to be legally binding, it typically requires an offer, acceptance, consideration (something of value exchanged), and the intention to create a legal relationship. Contracts can cover a wide range of topics, such as employment, sales, and services. If one party fails to fulfill their part of the agreement, the other party may seek legal remedies. Understanding contracts is important for protecting your interests in various transactions.