  Contract Law IntroductionContract law affects a wide sphere of transactions in our economy. For instance, contracts involve the purchase and sale of real estate, employment agreements, construction deals, intellectual property licensees, commercial transactions, consumer transactions, etc. Hence, a major focus of contract law is to protect an individual's freedom to contract and right to enforce contractual obligations against other parties who are obligated to perform under a contract's terms. Despite the importance of contracts in our daily lives, many people are not aware of the essential elements required to make a contract enforceable in a court of law. Accordingly, the purpose of this article is to identify the required elements of a contract and answer common questions non-attorneys may have concerning each.  Next Page
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