Contract Law

Contract law is the field of the law of obligations concerned with contracts, agreements that specify legally enforceable rights and obligations for two or more parties, and it rests on the principle that agreements must be honoured. The cited article explains that in the event of breach the injured party may seek judicial remedies such as damages or equitable remedies such as specific performance or rescission. It reports that common law jurisdictions typically require consideration for a contract to be valid, whereas civil law and most mixed jurisdictions require only a meeting of the minds, and it contrasts contract law with tort law, the other major area of the law of obligations. Doctrines grouped under this entry concern the making, content and enforcement of agreements.