Law 5110 Study Guide - Quiz Guide: Meeting Of The Minds, Retail, Main Source
Document Summary
Contract law ensures that these contracts are binding and can be enforced. Contract law is made to apply to any contract. Still contracts can be categorised on basis of: The reason for these contracts (unilateral, bilateral) In civil law systems, contract law is seen as a part of private law, also called the law of obligations". There is a distinction between voluntary obligations (contract law) and non- voluntary obligations (tort law). Cascade of contracts: the fact that one contract is linked directly to many other contracts. Freedom of contract: individuals can make their own choices. Therefore they can conclude a contract with whomever about whatever, whenever they want. Binding force: no one is forced to contract, but if one does, he is bound by it. Informality: contracts don"t require a specific form (consensus ad idem). This was not recognised in roman law (closed system of contracts).
