Asked by
Grace Kaminski
on Nov 01, 2024
Verified
A contract consists of mutual promises between two parties that can be enforced in a court of law.
Mutual Promises
Agreements where both parties commit to perform or refrain from specific actions, forming the basis of a contract.
Enforced
Enforced means to compel compliance or adherence to a law, rule, or obligation, often involving the implementation of measures to ensure that terms or directives are followed.
- Identify the fundamental components and principles involved in the creation, execution, and interpretation of contracts.
- Gain an understanding of mutual assent, consideration, legality, and capacity as essential pillars of a valid contractual agreement.
Verified Answer
KK
Learning Objectives
- Identify the fundamental components and principles involved in the creation, execution, and interpretation of contracts.
- Gain an understanding of mutual assent, consideration, legality, and capacity as essential pillars of a valid contractual agreement.