Legal Contract

A legal contract is a formal agreement between two or more parties that outlines specific promises or obligations each party must fulfill. To be valid, it typically requires an offer, acceptance, consideration (something of value exchanged), and mutual consent. Contracts can cover a wide range of matters, such as sales, services, employment, or rental agreements. If one party fails to meet their commitments, the other can seek legal remedies. Essentially, contracts serve to protect the interests of the involved parties and provide clarity on what is expected from each side.