Essay on The Definition Of Contract Law

Essay on The Definition Of Contract Law

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The simple definition of agreement according to the oxford dictionary is a situation which people share the same opinion or accept each other’s opinion. In law agreements are informally known as contracts. Agreement in contract often requires a meeting of minds between the contracting parties which is described as a consensus “ad idem”. This brings us to the definition of contract, although it is difficult to give a definite answer to the definition of contract law, but it could be said as an aspect of law relating to agreement and promises. It is an agreement giving rise to obligations enforceable by law. The general perception of contract law is to know which agreement to enforce and which steps to take in enforcing those agreements should anything go wrong and also remedies that should be awarded to the parties being affected should anything go wrong with the contract. There are different types of contract, these are: oral contract which involves making an offer and the offer is being accepted by word of mouth, implied/unilateral this involves making a contract and the contra...

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