Business & Contract Law
Most businesspersons enter into contracts more frequently than they may realize. In almost all business dealings, any time you or your company agree to take some action or make a payment in exchange for anything of value, a legal contract has been created. For example, most bills of sale, purchase orders, employment agreements, and other common business transactions are legally enforceable contracts.
A contract is a legally enforceable agreement between two or more parties that creates an obligation to do or not do particular things. No matter who the parties are, contracts almost always contain essential elements like , the parties have to be cometent to enter into a contract and mutual parties must be in agreement.