When people think about “contracts,” they typically think of a formal document signed by two or more persons to memorialize an agreement. In practice, the substantial majority of contracts are not in writing, but this does not necessarily make them unenforceable. People enter into contracts and encounter contracts all the time, often without even knowing it. It isn’t until a dispute arises that the terms of these contracts are clearly set out, and the parties to the contract realize that there is a problem.
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The simplest [and sometimes the best] advice that any lawyer can give to a person with respect to contracts is to let the lawyer see it before it is signed. Once a contract has been made, there may not be any defense to it.
Contract law is very technical, and when you are faced with concerns about a contract, you need to speak with an attorney who is knowledgeable in this area of law. We handle numerous contract disputes, some of which are very complex. We also draft contracts for individuals, as well as for companies.
What is Contract Law?
Contract law is a foundational area of
private law that governs agreements and their enforceability. It is also known as
contractual law or the
law of obligations. A legally binding contract requires several essential elements: an offer, an acceptance, and consideration (something of value exchanged between the parties). This area of law provides a framework for voluntary transactions, from simple everyday purchases to complex business deals. When one party fails to fulfill their obligations, it is known as a
breach of contract. The law provides various remedies for a breach, including monetary damages to compensate the non-breaching party for their losses or, in some cases,
specific performance, which compels the breaching party to perform their contractual duties. The principles of contract law are primarily derived from common law and, for commercial goods, the
Uniform Commercial Code (UCC). This area of law is a cornerstone of a market economy and is essential to all business and financial transactions.
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Academic Resource: Georgetown University Law School's academic publications provide detailed analysis of contract law principles, such as this paper on classic theoretical debates. Georgetown University Law School. Georgetown Law Contract Theory Paper
Contracts are the foundation of both business and personal agreements. Contract disputes can impact your life and career. At Burts Turner & Rhodes in Spartanburg, our contract attorneys provide expert legal representation to help you effectively resolve these disputes. In addition to helping clients understand and negotiate contracts, we also draft custom contracts tailored to their needs. We represent individuals and businesses in a variety of contract-related matters, including breach of contract, non-compete agreements, and inter-business disputes.
