Different Types of Contracts
- Purchase and sale of goods and/or services
- Purchase and sale of real property – land, buildings
- Employment agreement
- Joint-venture agreement
- License of intellectual property – patents, trademarks, copyrights
- Production agreement
- Agency agreement
- Distribution agreement
- Shareholders agreement
- Partnership agreement
- Tax sharing agreement
- Trust agreement
- Settlement agreement – of a dispute
Définition
Contract
An agreement between two or more parties that creates in each party a duty to do or not do something, and the right to performance of the other party’s duty or a remedy for a breach
Breach
Failure to perform an obligation created by a promise or contract, without justification or excuse
Perfomance
The action or omission required to fulfill a promise or obligation
Specific Performance
An equitable remedy that requires a breaching party to fulfill the exact terms of the contract; used when monetary damages are insufficient or inadequate, such as for the breach of a sale of real estate
Offer
A proposal for an agreement that another party may accept upon receipt to form a legally binding contract
Acceptance
An approval, often required to be in writing, of an offer that forms a legally binding contract
Statute of frauds
A state law that does not allow certain contracts to be enforced unless they are in writing
Définitions
Contract
An agreement between two or more parties that creates in each party a duty to do or not do something, and the right to performance of the other party’s duty or a remedy for a breach
Breach
Failure to perform an obligation created by a promise or contract, without justification or excuse
Perfomance
The action or omission required to fulfill a promise or obligation
Specific Performance
An equitable remedy that requires a breaching party to fulfill the exact terms of the contract; used when monetary damages are insufficient or inadequate, such as for the breach of a sale of real estate
Offer
A proposal for an agreement that another party may accept upon receipt to form a legally binding contract
Acceptance
An approval, often required to be in writing, of an offer that forms a legally binding contract
Statute of frauds
A state law that does not allow certain contracts to be enforced unless they are in writing
