The Basics of a Contract

Agreement as Contracts

Often, agreement between friends, family, domestic partners  are unenforceable. If the contract is enforceable, then it is a legal agreement, which is most of the time agreement made within a commercial dealing.

Contract Enforceability

The parties in the contract had agreed and determined their obligations.

        Obligation – the duty that the parties aim to carry out

Contractual Obligations

These obligations are to be carried out by the parties. These duties are promised by the parties, and once all the obligations are delivered, then the contract is discharged.

In the event that party, or parties, to a contract are unable to deliver their obligations, then a breach of the contract is established.

The breach is based on the undischarged obligations of the party. Once proven, the party who had breached the contract will have to remedy the breach with an award for the damages or nullification of the contract, or both.