Description: Are you a business owner who needs to review and sign contracts? Do you want to learn more about contract law so that you can protect your business...
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Contract law is governed by common law and the UCC Uniform Commercial Code. Common law governs contractual transactions involving real estate, services, insurance, intangible assets and employment. The UCC governs contractual transactions involving tangible goods and objects (such as buying a car). Contracts are promises that the law will enforce.
Contract law is generally governed by state Common Law, and while general general contract law is common throughout the country, some specific judicial interpretations of a particular element of the Contract may vary between states. The standard advice is not to use problematic common law terminology. That is also our advice, but with one difference, problematic common law terminology is also problematic for common law drafting, so you should eliminate it from your entire drafting. Statutory law, such as th
The Uniform Commercial Code, the original articles of which have been adopted in almost every state, represents a body of statutory laws governing important categories of contracts. The legal remedy for breach of contract under civil law is to have the offending party act. Under Common Law Breach Remedies, a party filing a lawsuit can ask a court to grant specific enforcement remedies, compensatory damages, or wrongful enrichment remedies. It's important to understand the common law of contracts when runnin