contratto

A contract, or contratto in Italian usage, is a legally binding agreement between two or more parties that creates enforceable rights and obligations. The contract sets out the promises each party makes and the conditions under which they must be fulfilled.

Core elements common to most legal systems include offer and acceptance, mutual assent, capacity to contract, legality of purpose, and consideration or an equivalent exchange. Some systems require consideration (typical of common law), while civil law traditions emphasize consent, object, and cause and do not rely on separate consideration.

Contracts can be express or implied, written or oral, and may be unilateral (one party promises performance) or bilateral (both sides promise). Some contracts or terms may require formalities, such as writing or public authentication, depending on the jurisdiction and subject matter.

Performance in accordance with the terms discharges the contract. Breach—failure to perform as agreed—may trigger remedies such as damages, specific performance, or rescission and restitution. A contract can be discharged by agreement, by supervening impossibility, or by frustration. Validity can be affected by factors such as misrepresentation, duress, undue influence, mistake, or lack of capacity.

International and commercial contracts often involve additional considerations, such as choice of law, choice of forum, and the application of international conventions (for example, the CISG) to govern cross-border transactions. Contracts play a central role in civil, commercial, and administrative contexts and vary in detail across jurisdictions.