example of contract in law

a contract outlines the terms of an agreement in clear language. in the case of a breach of contract, the wronged party has legal recourse and can sue their counterpart for damages in court. using a contract lawyer to create your contract could save you time and money in the long run should any of the parties involved dispute or breach the contract. when breaches occur, you have two options — seek mediation from a contract lawyer or sue the party in breach of contract and take them to court.

contract example in law

graphic designer created the materials and delivered them to developer, as required in the contract. contracts are, in a sense, private law created by the agreement of the parties. state law requirements vary from state to state, but in most states, a contract for the sale of goods for $500 or more must be in writing. an offer – a proposal to form a contract – can be as simple as the words, “i’ll wash your car for you for $5.” once the offeror terminates the offer, the offeree no longer has the legal power to accept the offer and form a contract. developer and big co. did not have a contract, so developer has no legal recourse against big co. for loss of the deal or for the costs of the preliminary work.