Law of Contract

The Law of Contract is a set of legal rules that governs agreements between individuals or entities. It outlines how contracts are formed, executed, and enforced. A valid contract typically requires an offer, acceptance, consideration (something of value exchanged), and mutual intent to create a legal obligation. If one party fails to fulfill their part of the agreement, the other may seek legal remedies. Essentially, it ensures that promises made in business and personal dealings are honored, providing a framework for resolving disputes when they arise.