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A contract is a legally binding arrangement between two or more parties. Agreement is reached when an offer from one party is accepted by the other party or parties.

An oral contract is a good contract at law, although evidencing the terms in writing is generally more satisfactory. Written contracts are required for certain transactions such as property purchase.

Particular contractual concepts apply to employment contracts as distinct from commercial contracts.

For other legal topics return to the law library.

Contracts areas

Commercial contracts

Arrangements to provide goods and services are the very essence of enterprise. Most businesses operate through a breadth and variety of trading arrangements. If the parties to an arrangement have failed to document their relationship it is possible that disputes may arise, and where a dispute does arise evidencing the terms of the arrangement can […]

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Employment contracts

A contract of employment comes into existence once an employer puts an offer of work to an applicant and the offer is accepted. The contract that a director will enter into is referred to as a service agreement. Where shares or options are provided to the director the service agreement operates in conjunction with the […]

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