Contracts are central to many business decisions and agreements. Contracts set the terms, lay out the rules, and embody the expectations of an agreement. If an agreement has been breached, contracts also hold parties accountable to their side of the bargain.
For a contract to be binding on the parties and legally enforceable, contracting requires the parties to follow certain formalities. These formalities include a bargained-for-exchange of promises, a valid offer and subsequent acceptance, sometime called a “meeting of the minds” or “mutual assent,” and the exchange of valuable consideration. A contract must also contain certain essential elements, such as the parties, subject matter, price, quantity, and time for performance. Whether all of these elements are required depends on the nature of contract.
The above is not an exhaustive list of requirements to form a valid contract. If any of these are missing, a court may find exceptions in certain cases. If these requirements are met, there in some cases there may be an exception that excuses the missing requirement.
In Florida, contracts are partly governed by statute. But more so than most other areas of law, contract law is a product of the wisdom and experience of the common law. This is because the different types of contractual disputes that can arise and variety of facts and circumstances are endless. This is especially the case in our increasingly complex and interconnected age of information and technology.
If you require legal assistance with a contract law or other legal matter, want to schedule a consultation, or have questions, you can contact the Bress Law Firm at (954) 336-8049 or michael@bressLaw.com. Initial consultations are free and confidential. We are located in Aventura, Florida, but serve clients throughout Miami-Dade County. All appointments are by appointment only.
The information you obtain at this site is not, nor is intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. You are welcome to contact us about a legal matter via. Phone, Letter, or Electronic Mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information until such time as an attorney-client relationship has been established. Our firm, however, treats all client information as strictly confidential.