What is Contract Law?

What is Contract Law?

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Contract law becomes relevant if you have entered into some “contractual relationship” with another person; that is, both sides agree to give each other an item or service that would benefit the other person. Common forms of contracts we see in everyday life include sales agreements, manufacturing agreements, confidentiality agreements, loan agreements, and privacy terms and conditions.

Example

Sally bought a stuffed animal for her child from a store. According to the packaging, the stuffed animal was able to “sing” upon pressing a button. She put in the batteries and gave the stuffed animal to her child. However, when her child pressed the button, not only did the stuffed animal stay silent (which made her child cry), but upon more careful inspection, Sally also discovered a small sharp needle inside the stuffed animal.

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