Contract: Difference between revisions

From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson
(Add link.)
imported>Doug Williamson
(Add links.)
Line 1: Line 1:
''Law.''
1.  ''Law - noun.''


A contract is a legally binding agreement between two parties.
A contract is a legally binding agreement between two parties.
Line 9: Line 9:


However, each jurisdiction has its own individual contract law and, although these may be similar in many respects, they can also be significantly different in essential elements, for example in relation to the requirement for [[consideration]].  
However, each jurisdiction has its own individual contract law and, although these may be similar in many respects, they can also be significantly different in essential elements, for example in relation to the requirement for [[consideration]].  
2.  ''Law - verb.''
To form or create a contract.
3.  ''Size or number - verb.''
To become smaller, or fewer.




Line 22: Line 32:
* [[Consideration]]
* [[Consideration]]
* [[Contra proferentem]]
* [[Contra proferentem]]
* [[Contract for differences]]
* [[Contract hire]]
* [[Contract purchase]]
* [[Contracting]]
* [[Contracting]]
* [[Contractor]]
* [[Contractor]]
* [[Counter-offer]]
* [[Counter-offer]]
* [[Currency contract]]
* [[Currency forward contract]]
* [[Deal]]
* [[Deal]]
* [[Documentation]]
* [[Documentation]]
Line 33: Line 48:
* [[Fit for purpose]]
* [[Fit for purpose]]
* [[Force majeure]]
* [[Force majeure]]
* [[Foreign exchange forward contract]]
* [[Forward contract]]
* [[Forward forward contract]]
* [[Frustration]]
* [[Frustration]]
* [[Futures contract]]
* [[Implied term]]
* [[Implied term]]
* [[Indemnity clause]]
* [[Indemnity clause]]
Line 50: Line 69:
* [[My word is my bond]]
* [[My word is my bond]]
* [[Negligence]]
* [[Negligence]]
* [[Open contract netting]]
* [[Open interest]]
* [[Open interest]]
* [[Performance]]
* [[Performance]]
Line 57: Line 77:
* [[Regulation]]
* [[Regulation]]
* [[Repudiation]]
* [[Repudiation]]
* [[Replacement contract netting]]
* [[Restrictive covenant]]
* [[Restrictive covenant]]
* [[Service agreement]]
* [[Service agreement]]
Line 62: Line 83:
* [[Sweetheart deal]]
* [[Sweetheart deal]]
* [[Tax]]
* [[Tax]]
* [[Tender to contract cover]]
* [[Tort]]
* [[Tort]]
* [[Trade]]
* [[Trade]]

Revision as of 16:53, 5 July 2022

1. Law - noun.

A contract is a legally binding agreement between two parties.

Essential elements of an enforceable contract under English law include offer and acceptance, consideration, and legal capacity to contract (together with other legal requirements).


The fundamentals of contract law are similar throughout the countries of Europe, the US and many other jurisdictions.

However, each jurisdiction has its own individual contract law and, although these may be similar in many respects, they can also be significantly different in essential elements, for example in relation to the requirement for consideration.


2. Law - verb.

To form or create a contract.


3. Size or number - verb.

To become smaller, or fewer.


See also