Philosophy 2080 Lecture Notes - Lecture 1: Specific Performance, Breach (Security Exploit), Determinative
4 Dec 2017
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By definition, a contract is an agreement that is legally enforceable. It is not a piece of paper, but a piece of paper may be a document that sets out the terms of the contract. Most contracts are verbal, also known as simple contracts. When you take a bus, or a cab, or order your meal in a restaurant, you are entering into an agreement that will be enforced by law, the state. Even though you may not have thought of this activity in this way, it is true: if there is an intended legal consequence of your agreement, implied or express, verbal or written, then the agreement is potentially a contract. In philosophical terms, contract is fundamentally different than tort law. It is private law, but the parties to a contract create their own legal rights and obligations. In tort law, the court imposes rights and obligations after the fact.
