New York law contracts

New York contract law requires that agreements be made with mutual consent, supported by consideration (something of value exchanged), and have clear terms. Both parties must have the capacity to contract (be of sound mind and legal age). Terms should be definite enough to enforce. If these basic elements are met, the contract is generally legally binding. The law also recognizes written contracts as more reliable, especially for significant transactions. Breaching a contract can lead to legal remedies, such as damages or specific performance. Overall, New York law emphasizes fairness, clarity, and mutual assent in contractual agreements.