contrat

A contrat, or contract, is a legally binding agreement between two or more parties that creates enforceable rights and obligations. It governs what each party must do or refrain from doing and can be recognized in civil, commercial, or public law depending on the context.

Core elements typically required for a valid contract include an offer, an acceptance, consideration or an equivalent, the intention to create legal relations, and the capacity of the parties to contract. Some jurisdictions require a writing for certain types of agreements, such as real estate transactions or lendings, while others recognize oral contracts. The legality of the contract’s purpose is also essential, meaning illegal or against public policy contracts are not enforceable.

Contracts can be categorized in various ways. By enforceability: valid, void, voidable, or unenforceable. By formation: express (explicit terms) or implied (derived from conduct), and by performance: executory (yet to be performed) or executed (fully performed). Common types include contracts of sale, employment, lease, and services, as well as public contracts.

Formation and interpretation involve an assessment of consent, including issues such as misrepresentation, duress, or mistake. Terms are interpreted according to applicable rules of construction, and some jurisdictions limit the use of extrinsic evidence to alter written terms.

When a contract is breached, remedies may include damages, specific performance, rescission, or restitution. Termination can result from performance, mutual agreement, breach, or external factors such as impossibility. International contracts may be governed by national law or international instruments like the CISG, with dispute resolution often in courts or by arbitration.