Law 2101 Study Guide - Quiz Guide: Employment Contract, Meeting Of The Minds, Private Law
Document Summary
Contract law governs the transaction among parties: enables market actors to participate in economic and social life. Contracts can be enforced in the courts in case the other party does not perform. Most rules and principles of contract law are designed to apply to any contract. Transactions are governed by the same principles and rules. The law must treat all contracts and parties equally. Types of contracts: contracts on basis of the parties involved/main characteristics of the contract/purpose of the binding contract. Commercial contracts: between two or more commercial parties/business-to-business. Consumer contracts: between a business and a consumer. Legislators and courts sometimes make rules specifically designed for: b2b/b2c contracts. Specific contracts: sales contract/employment contract (governed by their own specific rules/laid down in national civil codes/developed by the courts) Sales contract: seller needs to deliver the good and the buyer undertakes to pay the price.
