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Law of Contract.
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| Submitted: Wed May 05 2004
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Law of Contract Task A A contract is basically a document of legal rules regarding an agreement made between two or more parties. As Sir Fredrick Pollock explains it: "A promise or set of promises which the law will enforce." There are two types of contracts; these are contracts by deed and simple contracts. Contracts by deed are formal legal documents, which is signed by the contracting parties and witnessed. Simple contracts are not deed and do not necessarily need to be in writing, they can be oral promises or partly written and partly oral. They can also be implied by conduct. In order for a contract to be formed there are several traditional points that need to be included; these are offer (and counter offer), acceptance (and rejection), consideration and intention to create legal relations. Lord Denning believes that these are not all necessarily needed to create a legally binding contract....
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