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A contract is an agreement that is enforceable by law.
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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1. A contract is an agreement that is enforceable by law, or in the words of Professor Fried (1981): "That the law of contract is based upon the promise - principle, by which persons may impose on themselves obligations where none existed before". There are a variety of contracts that can involve just one type or a combination. Any contract can be made in writing, but some have to be made, for example when purchasing a house or goods on hire purchase. The other types can be made orally, "will you sell me your furniture for £500?", Reply "Yes I will", or by conduct. For example, buying a can of coke from a vending machine. A combination of all three for example are when you wished to hire a deck chair. You ask for the price for the length of time you wish to hire (oral); the ticket is written...
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