contracts

What is a Contract?

English II

INDEX

concept

Parts of a contract

Common agreement types

coNTRACT CONCEPTS

EXAMPLE

Concept

VOCABULARY

PARTS

tYPES

eXAMPLE

What's a contract?

A contract is a legally binding agreement that is a promise of a specific value for every party.

cONCEPT

VOCABULARY

EXAMPLE

Parts

tYPES

Parts of a contract

Structure

Elements

VALID OFFER

• Contract Frame.
• Definitions Section.
• Business Section.
• Termination Section-
• General Provisions Section— boilerplate

• Parties
• Recitals
• Mutuality of obligations
• Binding agreement

CONCEPT

VOCABULARY

EXAMPLE

paRTS

types

Common types

• Express Contracts
• Bilateral Agreements
• Unilateral Agreements

Empresa

SUBTÍTULO

CONCEPT

PARTS

TYPES

VOCABULARY

Example

Warranty

A warranty signifies a promise that a fact is true.

REPRESENTATIONS

Covenant

This is a statement of fact or present intention

A covenant obligates a party to do, or refrain from doing something.

Declarations

These set the policy for the contractual relationship and define terms.

Empresa

Conditions

SUBTÍTULO

A duty that the parties must perform under the contract. Conditions are never breached

CONCEPT

PARTS

TYPES

VOCABULARY

Example

Warranty

A warranty signifies a promise that a fact is true.

REPRESENTATIONS

Covenant

This is a statement of fact or present intention

A covenant obligates a party to do, or refrain from doing something.

Declarations

These set the policy for the contractual relationship and define terms.

Empresa

Conditions

SUBTÍTULO

A duty that the parties must perform under the contract. Conditions are never breached

CONCEPTS

VOCABULARY

EXAMPLES

PARTS

TYPES

CONCEPTS

VOCABULARY

EXAMPLES

PARTS

TYPES