info@newyorknylawfirm.com
   
Magna Carta Transcript
US Constitution Transcript
Landmark Supreme Court Cases
Supreme Court/States Links
Administrative Law
Admiralty Law
Agriculture Law
Antitrust And Trade
Banking Law
Bankruptcy Law
Business Law
Civil Rights
Communications Law
Constitutional Law
Construction Law
Contracts
Corporation & Enterprise Law
Criminal Law
Cyberspace Law
Disibility Law
Dispute Resolution & Arbitration
Education Law
Employment Law
Energy Law
Entertainment & Sports Law
Environmental Law
Ethics/ Prof. Responsibility
Family Law
Gaming Law
Government Law
Health Law
Immigration Law
Indian & Native Peoples
Injury & Tort Law
Insurance Law
Intellectual Property
International Law
Labor & Employment Law
Litigation
Military Law
Probate Trusts & Estates
Property Law & Real Estate
Regulation
Securities Law
Tax Law
Transportation Law
Workers Compensation


Jan12_2004 Feb24_2004
March30_2004 April6_2004
May4_2004 June10_2004
July1_2004 August31_2004
Sept14_2004 Oct19_2004

Other Links
LawFirms1 LawFirms2
LawFirms3 LawFirms4
LawFirms5 LawFirms6
LawFirms7 LawFirms8
LawFirms9 LawFirms10
LawFirms11 LawFirms12
LawFirms13 LawFirms14
Law15 Law16 Law17
Boston Law Firm
Web Design Laser Marking


Contracts: an overview
Contracts are promises that the law will enforce. The law provides remedies if a promise is breached or recognizes the performance of a promise as a duty. Contracts arise when a duty does or may come into existence, because of a promise made by one of the parties. To be legally binding as a contract, a promise must be exchanged for adequate consideration. Adequate consideration is a benefit or detriment which a party receives which reasonably and fairly induces them to make the promise/contract . For example, promises that are purely gifts are not considered enforceable because the personal satisfaction the grantor of the promise may receive from the act of giving is normally not considered adequate consideration. Certain promises that are not considered contracts may, in limited circumstances, be enforced if one party has relied to his detriment on the assurances of the other party.

Contracts are mainly governed by state statutory and common (judge-made) law and private law. Private law principally includes the terms of the agreement between the parties who are exchanging promises. This private law may override many of the rules otherwise established by state law. Statutory law may require some contracts be put in writing and executed with particular formalities. Otherwise, the parties may enter into a binding agreement without signing a formal written document. See 110 of The Restatement. Most of the principles of the common law of contracts are outlined in the Restatement Second of The Law of Contracts published by the American Law Institute. See Restatement (Second) of Contracts. The Uniform Commercial Code, whose original Articles have been adopted in nearly every state, represents a body of statutory law that governs important categories of contracts. The main Articles that deal with the law of contracts are Article 1 (General Provisions) and Article 2 (Sales). Sections of Article 9 (Secured Transactions) governs contracts assigning the rights to payment in security interest agreements. Contracts related to particular activities or business sectors may be highly regulated by state and/or federal law.See Law Relating To Other Topics Dealing with Particular Activities or Business Sectors.

In 1988, the United States joined the United Nations Convention on Contracts for the International Sale of Goods which now governs contracts within its scope.


9842 Park Avenue New York, NY 10022
Phone 212.555.4629 Email:
info@newyorknylawfirm.com


web design boston concrete contractor laser marking, laser engraving, laser systems boston limousine