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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Japan services sector loses steam in March as confidence eases, PMI shows

Hong Kong Standard 03 Apr 2025
Japan's service industry stagnated in March while broader private sector activity contracted at the fastest pace in more than two years, a business survey showed on Wednesday ... The au Jibun Bank Japan Services Business ... The 50.0 threshold separates expansion from contraction....
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Services sector posts robust growth in March, PMI shows

RTE 03 Apr 2025
The AIB Ireland Services Business Activity Index rose to 55.3 in March from 53.2 in February, indicating strong growth, AIB reported ... The survey highlighted notable growth in the Technology, Media & Telecoms, Financial Services, and Business Services categories, while Transport, Tourism and Leisure marked its first contraction in eight months....
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Impacts of Saturn Transiting in Pisces on Virgo Ascendants (Lagna): Time to explore deeper understanding

The Times of India 03 Apr 2025
Classical texts suggest that Saturn governing financial houses while transiting the seventh house of contracts creates favourable conditions for bank approvals relating to marriage, business endeavours, or other essential matters ... You may encounter legal matters, contract negotiations, or business restructuring requiring disciplined approaches....
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Athletics world watching as 'Grand Slam Track' prepares for launch

Urdu Point 03 Apr 2025
"I'm looking, who are your outside sponsors? Who are your non-track and field sponsors?" </p><p> Lyles' US team-mate Rai Benjamin, the Olympic 400m hurdles champion, has also questioned the financial viability of the circuit.</p><p> "I look at it as a business," Benjamin said....
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Business doc mess? Organize with this 79% off scanner app

New Atlas 03 Apr 2025
Business paperwork piles up. unsigned contract versions, sales listings, employee documents. Swap to SwiftScan VIP with a lifetime subscription to scan all of your docs into one place in this smartphone app for $41.99 with code TAKE30.SwiftScan captures your business docs....
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SC House passes bill banning ‘illegal’ DEI across schools and government

Yahoo Daily News 03 Apr 2025
The bill also requires private businesses with government contracts to certify they ......
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Solana Could Fall To $50 In A Matter Of Weeks Whilst Remittix Set For Gold ...

Cryptopolitan 03 Apr 2025
Its crypto-to-FIAT solution is going to simplify how individuals and businesses settle payments internationally ... Users including individuals and businesses can take advantage of the sophisticated PayFi technology by to instantly convert their digital assets into local currency then send funds to any worldwide bank account directly....
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Labor offers $1bn in loans to Australian export companies and seeks to loosen US trade ...

The Guardian 03 Apr 2025
Federal government unveils protective measures to help export-focused companies tap alternative marketsElection 2025 live updates ... GinaGet our afternoon election email, free app or daily news podcast ... Bringing Australian businesses to the “front of the queue” for government contracts ... .......
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Donald Trump's reciprocal tariffs: Which countries take the hardest hit and which escape?

The Times of India 03 Apr 2025
However, businesses in these nations remain concerned about the broader implications of escalating trade tensions.Economic impact and global responseThe announcement of the tariffs has rattled global markets, with S&P 500 futures dropping nearly 2% and Asian and European stock indices experiencing similar declines....
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Deloitte is the biggest loser in DOGE's consulting crackdown

Business Insider 02 Apr 2025
David Ake/Getty ImagesThe Trump administration is slashing federal spending on consultants.Business Insider crunched the DOGE receipts to calculate how many contracts have been cut.Deloitte has had at least 127 contracts cut or modified — more than twice as many as any of nine other firms....
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Weiffenbach Law Brings Big Firm Experience, Small Firm Attention to Massachusetts Businesses

GetNews 02 Apr 2025
Attorney Paul Weiffenbach has over 30 years of experience in corporate and finance law, specializing in strategic business formation, contract drafting and negotiation, funding and investment matters, mergers and acquisitions, and general business counsel services....
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Park City contracts fuel thriving community

Park Record 02 Apr 2025
How does the municipal government support this thriving community? Contracts with businesses that enrich local recreational and cultural offerings ... Even on a federal level, entrepreneurial support remains a priority with 23% of the government’s contract budget allocated to small businesses every year....
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CME Crypto Derivatives Average Volume Hit Record $11.3B in Q1

CoinDesk 02 Apr 2025
CME Group (CME) saw record activity in its cryptocurrency derivatives markets during the first quarter of the year, driven by increased interest in micro-sized contracts ... The record-setting crypto activity came as part of broader momentum across the derivatives giant’s business....

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