You may know what business is. You may even be familiar with law. Today, we're going to put them together—business law. We'll deal with one super-huge business law concept here—contracts.
Now, you've probably heard a lot about contracts. Maybe you've even signed one. Maybe your favorite basketball player just signed one. But what is a contract? Simply put, a contract is a legally enforceable promise or set of promises.
So, it follows that contract law determines what promises are enforced, whether promises have been performed, and remedies for breaches of contract (meaning somebody has broken a contract in some way). These remedies are basically compensation for, or fixes to, the breached part of the contract.
We'll get to the bottom of this contract stuff by looking at two areas: the sources of contract law and the requirements for a valid contract. We'll start with the sources of contract law.
The Sources of Contract Law
There are basically two sources of contract law:......

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Title: Standard Deviant
Approximate Word Count: 3150
Approximate Pages: 13 (250 words per double-spaced page)

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