Understanding Business and Personal Law

Chapter 10: Form of a Contract

Chapter Overviews

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Most states have laws requiring that certain contracts be in writing. These laws are called "Statutes of Frauds." There are several elements that must be included in a written contract that typically identify the place, date, involved parties, subject matter, price and terms, and intent of the parties. The contract should also contain the signature of the party who may be charged on the agreement.

In this chapter, you will learn about contracts, as well as the special rules and formalities that apply to those contracts.