Latin America Contract Law

Latin American contract law primarily includes the legal principles governing agreements between parties in countries within the region. It is largely influenced by civil law traditions, which derive from Roman law. Contracts must generally meet specific criteria: mutual consent, a lawful object, and a legally capable subject. Many nations have codified their contract laws, providing clear rules for formation, performance, and breach of contracts. This legal framework helps ensure fairness and predictability in business and personal transactions, allowing parties to seek recourse through courts in case of disputes.