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LSDefine

Simple English definitions for legal terms

Sanctity of contract

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A quick definition of Sanctity of contract:

The sanctity of contract means that when two or more people agree to something and sign a contract, they must keep their promises and do what they agreed to do. It's like a promise that you make to someone, and you have to keep it. This is important because it helps people trust each other and do business together.

A more thorough explanation:

The sanctity of contract is a principle that states that once two parties enter into a contract, they must fulfill their obligations under that contract. This means that they must do what they promised to do in the contract, and they cannot back out of the contract without consequences.

For example, if you sign a lease agreement with your landlord, you are obligated to pay rent for the duration of the lease. If you fail to pay rent, your landlord can take legal action against you to enforce the contract.

Another example is when a company hires an employee and agrees to pay them a certain salary. The company must pay the employee the agreed-upon salary, and the employee must perform the duties outlined in their job description.

The sanctity of contract is important because it ensures that parties can rely on the promises made in a contract. If parties could easily back out of contracts, it would be difficult to conduct business and make agreements with others.

Sanction | Sarbanes-Oxley Act

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JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
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