Contracts are private agreements entered into by two or more parties with the intention of creating legally binding obligations. Although contracts can be made orally, certain contracts must be in writing if they are to be honored or interpreted by a court (e.g., contracts for the sale of land). Breach of contract occurs when a…
Legal Articles
Breach of Contract
Contracts govern most things we do in our lives. From car loans, to mortgage agreements, to attorney-client agreements, individuals come together all the time to form contractual relationships. When are contractual relationships breached? Under traditional contract law, a breach occurs when a (1) party is under an absolute duty to perform, this (2) absolute duty…