United States Contract Law

United States contract law governs agreements between parties. For a contract to be valid, it must have offer, acceptance, consideration (something of value exchanged), the capacity to contract (parties must be of legal age and sound mind), and a lawful purpose. Contracts can be written or verbal, though written contracts are easier to enforce. If one party fails to fulfill their obligations, it may be considered a breach, allowing the other party to seek legal remedies. This body of law ensures that agreements are respected and provides a framework for resolving disputes.