Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

contract

Read a random definition: blue chip

A quick definition of contract:

A contract is a promise that the law will make sure is kept. It's an agreement between people that they have to follow. For a contract to be legal, both people have to agree to it, there has to be something valuable exchanged, and it has to be allowed by the law. If someone breaks a contract, the other person can ask for money to make up for what they lost because of the broken promise. Sometimes, even if there wasn't a real contract, a court might make someone pay if they promised something and the other person relied on that promise.

A more thorough explanation:

A contract is a legally binding agreement between two or more parties. It creates mutual obligations that can be enforced by law. For a contract to be valid, it must have:

If one party breaches the contract, the other party may seek remedies such as general damages, consequential damages, reliance damages, or specific performance.

Examples of contracts include:

For instance, a lease agreement is a contract that outlines the terms and conditions of renting a property. If the tenant fails to pay rent, the landlord can seek remedies such as eviction or damages. Similarly, if the landlord fails to provide a habitable living space, the tenant can seek remedies such as rent reduction or repairs.

If a contract is breached, the non-breaching party may seek remedies such as:

Expectation damages aim to compensate the non-breaching party for the amount of money they would have made if the contract had been fully performed. Consequential damages aim to compensate the non-breaching party for any foreseeable losses resulting from the breach. Reliance damages aim to compensate the non-breaching party for any expenses incurred in reasonable reliance on the contract. Specific performance aims to force the breaching party to fulfill their obligations under the contract.

Contracts of adhesion are a special type of contract that may be beneficial for some parties but can also be unfair or unconscionable. Examples include mortgage agreements, lease agreements, and online purchase agreements. Courts may scrutinize these contracts more closely due to the possibility of unequal bargaining power.

contraband | Contract Disputes Act

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
LSD+ is ad-free, with DMs, discounts, case briefs & more.