Contract

A contract is a voluntary arrangement between two or more parties that is enforceable at law as a binding legal agreement.

Elements of contract law

Each contractual party must be a "competent person" having legal capacity. The parties may be natural persons ("individuals") or juristic persons ("corporations"). An agreement is formed when an "offer" is accepted. The parties must have an intention to be legally bound; and to be valid, the agreement must have both proper "form" and a lawful object. In England (and in jurisdictions using English contract principles), the parties must also exchange "consideration" to create a "mutuality of obligation," as in Simpkins v Pays.

A contract is often evidenced in writing or by deed, but a valid contract may (with some exceptions) be made orally or even by conduct. Remedies for breach of contract include "damages" (monetary compensation for loss) and, for serious breaches only, "repudiation" (i.e. cancellation). The equitable remedy of specific performance, enforceable through an injunction, may be available if damages are insufficient.

Latest News for: Business contract

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FACT SHEET: Ahead of Small Business Saturday, the Biden-⁠Harris Administration Takes New Actions to Increase ...

The White House 29 Nov 2024
The Biden-Harris Administration is increasing small business lending limits and helping small businesses compete for federal contracting opportunities ... This also improves the resilience of supply chains for critical government needs by increasing competition and expanding the pool of businesses engaged in federal contracts....
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Ador calls NewJeans’ press conference 'regrettable,' asserts contract's validity

Korea Times 29 Nov 2024
K-pop girl group NewJeans speaks during a press conference held in Gangnam District, Seoul, Thursday, to announce its exclusive contract termination with Ador ... Agency confirms NewJeans contract through 2029, plans to find new producer ... The exclusive contract between Ador and NewJeans members remains valid....
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‘Garden shed’ funeral director toasts past year

Islington Tribune 29 Nov 2024
CORONERS, pathologists and celebrants gathered on Thursday to mark another year in business ... The family business is run by Paul Farrell (below), his brother and his wife and is the contracted funeral director for the Whittington Hospital Trust ... .......
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Breaking Down the Twisty Ending of Netflix K-Drama The Trunk

Time 29 Nov 2024
In-ji is a “field wife” for NM, and is preparing for her fifth contract marriage with the company ... Unlike her previous contract spouses, Jeong-won has not sought out the marriage for himself ... Seo-yeon has told a reluctant Jeong-won that, if he completes the one-year contract marriage, they can get back together....
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Giannis Antetokounmpo net worth 2024: Career, current salary, and more

The Times of India 29 Nov 2024
This substantial figure comes from a combination of his lucrative NBA contracts, endorsement deals, and business ventures ... Giannis Antetokounmpo’s endorsements and business venturesGiannis has a series of high-profile endorsement deals, including partnerships with Nike, JBL, and Hulu....
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Japan's jobless rate climbs to 2.5 pct in October

Xinhua 29 Nov 2024
TOKYO, Nov ... It is natural that many people were seeking a job in the reporting month after their half-year contracts expired in September, analysts said. Japan's business year starts in April ... ■. Japan's jobless rate climbs to 2.5 pct in October. ....
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CRISIL: Net leverage of Indian primary steel mills to hit 5-year high in FY 2024-25

SteelOrbis 29 Nov 2024
Furthermore, about a third of this capex is to increase downstream value-added products and efficiency benefits, which will support realisations and strengthen business profiles, the report said. While domestic demand is healthy, global steel demand is likely to contract for the third consecutive financial year ... ....
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Exclusive: Tottenham set to lose “unbelievable” key man as they’re already eyeing replacement

Caughtoffside 29 Nov 2024
Tottenham Hotspur are apparently already eyeing a replacement for their brilliant right-back, Pedro Porro, as it becomes clear Real Madrid are circling for the Spaniard ... Although the player only recently joined the Bundesliga outfit, and has a contract until June 2029, there is understood to be a price at which Leipzig may be willing to do business....
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Aviation Technical Service Engineer

The Engineer 29 Nov 2024
About the job. Job Title. Aviation Technical Service Engineer. Location. Warton. (On-Site) ... As a growing area within BAE Systems Corporate Air Travel Ltd, this role offers exposure across various business units and contracted 3rd party maintenance providers giving a unique opportunity to gain comprehensive insights into the organisation's operations ... ....
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Ripple (XRP), Cardano (ADA) And Cutoshi (CUTO) Are Trending On X, What’s Happening?

Brave New Coin 29 Nov 2024
A newcomer is also making waves ... Cardano Rebounds From The Lows ... Cutoshi backs its cuteness with state-of-the-art blockchain tech to bring a revolutionary DeFi platform powered by pure meme energy (and smart contracts). Cutoshi pays tribute to the Lucky Cat of Chinese folklore that is said to bring prosperity to businesses and households ... ....
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Inside the billionaires' plan to silence democracy

Alternet 29 Nov 2024
Evidently, he didn’t want to raise Trump’s ire because Bezos’s other businesses depend on government contracts ... The Guardian, Democracy Now, Business Insider, The New Yorker, The American Prospect, Americans for Tax Fairness, The Economic Policy Institute, The Center on Budget and ......
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Federal Court orders EDO to pay Santos $5.87m for failed Barossa gas project challenge

Offshore Technology 29 Nov 2024
However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form Submit ... The Northern Territory government estimates A$2.5bn in wages and contracts will benefit Territorians from these projects ... Give your business an edge with our leading industry insights ... ....
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Huron man pleads guilty in Chill-Can investment scheme

The Vindicator 29 Nov 2024
Garry Savage Sr. of Huron pleaded guilty earlier this week to 23 criminal counts related to an investment scheme involving the failed Chill-Can plant near downtown Youngstown ... According to the indictment, investors’ funds were misappropriated ... Joseph, as well as that company and three other affiliated businesses in a breach-of-contract lawsuit ... ....

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