A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty. A legally enforceable contract requires the following elements, all of which ...

Identify the purpose of the transaction, which dictates its structure. Determine whether the transaction: involves the provision of goods (for more information, see Sale of Goods Agreement (Pro-Buyer) ...

Although legal terminology can make reading and understanding a contact challenging, the principals involved are straightforward. A contract written on a cocktail napkin is just as valid as one ...

A standard sales contract obligates one party to purchase goods or services for a predetermined price established in the contract. Some sales contracts are ongoing and can include a buyout clause.

More businesses are using automated “smart contracts” to handle transactions. Based on blockchain technology, these contracts execute automatically and are lauded as a way to efficiently digitize ...