"A contract is a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty." The freedom to contract has not existed throughout history. In medieval...

Contracts are legally enforceable agreements between persons that specify transactions or define relations between them. Either informal or written, they may concern any lawful human transaction, from purchases and loans to hiring and marriage. In...

A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. Contract law is based on the Latin phrase pacta sunt servanda (pacts must be kept).[1] Breach of contract is recognised by the law and remedies...

General Motors Corp. discussed financial details of its new four-year agreement with the United Auto Workers union Monday. GM's UAW members ratified the contract last week. Among the highlights:RETIREE HEALTH CARE: The contract establishes a UAW-run trust for retiree health care that would take over...

The Army has taken the unusual step of recanting the testimony of a senior officer who contradicted a Senate committee examining an Iraq war contract, but stopped short of admitting it improperly paid $99 million to the defense contractor handling the work.Claude Bolton, the Army's...

Some Goodyear Tire & Rubber Co. workers said their new contract with the world's third-largest tiremaker is a bittersweet ending to a 12-week strike.About 10,000 out of 14,000 striking United Steelworkers members from 12 Goodyear plants in 10 states voted Thursday night on the three-year...

Democratic presidential candidate Hillary Rodham Clinton on Monday denied that her campaign traded money for an endorsement from one of South Carolina's most influential black politicians.In an interview with The Associated Press, Clinton responded to questions about the consulting contract her campaign negotiated with state...

Discusses contract law. Evaluates the effectiveness of the rules on formation of contracts and cases. Describes the two types of offers, specific and general.