"A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more mutually agreeing parties."
This involves studying the various types of contracts and their legal significance, such as employment contracts, lease agreements, or purchase agreements.
"A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date."
"In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission."
"A binding agreement between actors in international law is known as a treaty."
"Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honored."
"Like other areas of private law, contract law varies between jurisdictions."
"Common law jurisdictions typically require contracts to include consideration in order to be valid."
"Civil and most mixed-law jurisdictions solely require a meeting of the minds between the parties."
"The German tradition is characterized by the unique doctrine of abstraction."
"Systems based on the Napoleonic Code are characterized by their systematic distinction between different types of contracts."
"Roman-Dutch law is largely based on the writings of renaissance-era Dutch jurists and case law applying general principles of Roman law prior to the Netherlands' adoption of the Napoleonic Code."
"The UNIDROIT Principles of International Commercial Contracts ... aim to provide a general harmonized framework for international contracts, independent of the divergences between national laws."
"The Principles reject the doctrine of consideration."
"The Principles also rejected the abstraction principle on the grounds that it and similar doctrines are 'not easily compatible with modern business perceptions and practice'."
"Tort law (also referred to in some jurisdictions as the law of delicts) is the other major area of the law of obligations."
"While tort law generally deals with private duties and obligations that exist by operation of law, and provide remedies for civil wrongs committed between individuals not in a pre-existing legal relationship, contract law provides for the creation and enforcement of duties and obligations through a prior agreement between parties."
"The emergence of quasi-contracts, quasi-torts, and quasi-delicts renders the boundary between tort and contract law somewhat uncertain."