Contract Law

          To understand the contract law, we first must understand the basic meaning of contract.

Contract is a legal written document that is created between two parties in form of an agreement. Contact regulates their partnerships, when they have same legal objective, or when they conduct some service, or when they buy some product in exchange of monetary value of the contract.

When we seek healthcare, the majority of us in the United States will experience at least one diagnostic error in our lifetime. In that situation, you will need to hire a lawyer. For example, if you have been victimized by medical malpractice involving kidney disease, you will need to discuss your situation with an experienced medical malpractice lawyer (check attorneys kidney disease), who exclusively represents kidney disease patients, and to hire one. The agreement you will be entering into is a contract!

Every contract must meet certain legal elements such as:

1. Offer and acceptance – this is often called battle of the minds between two parties as the time between the contract is offered and the time of its acceptance.

2. Consideration of contract – this is the part where involved parties consider the financial or other service that they will get if they join in contract.

3. Mutual obligations – the parties will divide services or means in equal parts and this doesn’t imply that one party will get more than the other when binding in contract. Some also compete legally when entering into contract.

Learn more about basic elements of a contract

When the contract is broken there are two types of remedies: first one is that financial cost must be payed to lessen the damage the other party suffered, financial payment must cover all the cost provide by the contract. And the other – services or specific actions that were anticipated by the contract must be fulfilled.

Every contract has a freedom, which means it is an agreement between two or more individuals and the government doesn’t have to be involved. But certain element of the contract must be fulfilled regarding a law such as:

  • minimum wages,
  • competition law,
  • or setting up the prices in order to gain financial benefit.

What is an electronic contract?

With the increase of electronic trade, many countries have adopted the electronic contracts as a mean of faster and modern way, in order to establish their business and they are recognized as legally valid documents.