Contract Enforceability

Introduction

Definition

A contract is any legally binding agreement that is made between two parties. In the legal system an agreement must be between two people or more parties whereby the agreement must be entered voluntarily. In the agreement a lawful object must feature in and should create legal obligations which may either be one or more between the parties coming into an agreement. In the legal system, for a contract to become, it must involve two elements which are namely offer and acceptance. Therefore, the contract elements of offer and acceptance must be conducted by two proficient parties or people who have got legal aptitude. This is to ensure that the parties involved exchange deliberation in order to arrive at a reciprocated commitment (Chen-Wishart, 2012).

Overview

In the whole process of forming a contract, it is necessary to have a proof of all the elements or processes involved thereof. There are several ways or manner in which the proof of contract element may be done. The proof of either some or all contract element can be done in writing, orally or by conduct. However, in case there is a breach of contract, there is a remedy for that breach which is referred to in legal system as damages. The damages are usually in the form of specific performance or in form of compensation of money and which is enforceable through an injunction. These two types of remedies or damages award the side or the party at loss what is normally known in legal terms as the benefit of the bargain. Normally, the expectation damages or the benefit of the bargain is superior to the typical sheer reliance damages as stipulated in the promissory estoppels (Beale et al, 2010).

In legal perspective, the word promise is a legal syno...

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