Terminology

Contract

A contract is defined as any oral or written agreement between two or more parties that exchange rights and/or duties between the parties.  Every contract has four essential elements.  The first two create ‘mutual assent’ […]

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Legal

What is a Contract?

Article 1 of the Uniform Commercial Code copyrighted by the American Law Institute is considered the primary source for the definition of a contract.  All of the 50 states have incorporated all or most of […]