"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."
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 transac...
In order for a contract to be formed, there are various requirements. These are offer, acceptance, consideration, and the intention to create legal relations. A contract may also be terminated.