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Simple English definitions for legal terms
relative simulated contract
Read a random definition: local-law theory
A quick definition of relative simulated contract:
A contract is an agreement between two or more people that creates obligations that can be enforced by law. It can be a written document or just a verbal agreement. The term "contract" can refer to the agreement itself, the physical document, or the legal relations resulting from the agreement. In simple terms, a contract is a promise that the law recognizes and can provide a remedy for if broken.
A more thorough explanation:
A relative simulated contract is a type of agreement between two or more parties that creates obligations that are enforceable by law. It is a binding contract that can be recognized in court.
For example, if two people agree to sell a car for a certain price and sign a contract, that contract is a relative simulated contract. The contract sets forth the terms of the agreement and creates legal obligations for both parties.
It is important to note that a contract can refer to three different things: the series of operative acts by the parties resulting in new legal relations, the physical document executed by the parties as evidence of their agreement, and the legal relations resulting from the operative acts. The sum of these legal relations is often called an "obligation."
Overall, a relative simulated contract is a legally binding agreement that creates obligations for the parties involved.