What is Contract Law?
Amongst all the business laws, Contract law is one of the significant streams related to legal studies. Students who are professing on legal studies should know the various aspects related to contract law for which they are preparing an assignment writing on contract law case study. Therefore, before they are associated with making their Contract Law Case Study, they are primarily required to conduct in-depth research about the concept of contract laws. Some vital areas of contract law are discussed here to before enter into some essential categories of contract laws.
The Basic Knowledge Necessary Before Writing The Best Contract Law Case Study
A contract is a word that refers to the agreement in the form of writing that includes the following criteria as follows :
This should be reviewed
- Under the Law of court
- Introduction containing various clauses related to Law
Defining and identifying
- The related parties and critical terms of it
- A statement describing its purpose
- Obligations to be followed by each party
- Related Assurances and warranties
- Various attachments
- Blocking of signature
- The case should fulfill specific legal requirements to make the contract viable legally
The interrelationship between Contracts And The Law
Formation of the primary contract takes place when two different parties sign an agreement and oblige in performing their duties and responsibilities. As a term party, it can refer to any business house, person, or a corporate sector that agrees. The agreement should be enforced legally. The principal elements of laws which apply the contract law are:
Common-Law: It takes into account the set of rules which are formulated by Judiciary, which involves:
- Courts and
- Legal Tribunals
The above segments of Law provide importance to every case involving the individual. The most crucial factor of contract law makes it to include under the category of the common law.
Examples of Contract Law – Contract and Business Law: Parties related to a contract must possess agreement enforced between the two parties that are involved. The purpose of it is for claiming the damages that have taken place by breach of contract. The causes due to which agreement is breached by the concern parties are stated below :
- Concern Parties fail to perform the contract timely: Failure of the Party of the contract to carry out the contract as per standards and specifications agreed mutually by the party.
- Uniform Commercial Code
- There is a Uniform Commercial Code (UCC) that has been framed to provide legal rules and regulations related to commercial or business deals and related transactions.
The nature of a contract between the parties can be classified into the following cases :
- Bilateral Contract: It involves two parties where they are bound to oblige specific promises to each other.
- Unilateral Contract: Unilateral contract affects only one party promises performance or a service to another.
- Express type Contract: This refers to those mutually stated agreements where the conditions and promises are explicitly stated to each other without any documentary evidence.
- Contracts under seal: This refers to the traditional contract which bears an authorized seal.
- Implied Contract: This contract relates to the set of contracts where the parties agree to follow some obligations and show their interest to enter into a valid contract.
- Aleatory Contract: It refers to all those mutual agreements which get implemented for some unforeseen and uncertain event.
- Adhesion Contract: In these contracts, one party always takes advantage of its higher bargaining power. These are performed by big businesses or influential people.
- These are the major types of arrangements that are listed under the state of Law.
- Breach Of Contract: Breaching of a contract occurs when one of the parties in the contract violates any clauses mentioned in the agreement, and it causes harm to the other party in the following manner:
Damage of reputation of the party, their business, and also individual
If the accidents are caused due to a breach of contract, the other party can make a lawsuit. The court can order the defaulter to exhibit some specific performance or to honor the obligations mentioned in the agreement.
If the court finds that the violation of the contract is momentous, then the court can hold the party contempt, fine, and imprison.
It has been observed that students, who are pursuing Law need to deliver a contract law case study assignment cannot present their knowledge and skill in this discipline and fail to get good grades. We, at No 1 Assignment Help, assist Law students in preparing to write Contract Law Case Study Assignment. Students who need our help may contact us through our web site.