Contract

A legally enforceable agreement between parties

Overview

A contract forms when an offer is met with acceptance supported by consideration, creating obligations the law will enforce. Formation doctrine probes intent to be bound, certainty of terms, and capacity, while defenses include fraud, duress, unconscionability, and mistake. Remedies center on expectation damages placing the promisee where performance would have, with specific performance reserved for unique subject matter. Systems converge on the core while diverging in detail, from the American UCC on goods to civil codes folding contract into the law of obligations.