Wednesday, May 6, 2009

What IS a "Contract" anyway?

Now that we have covered the definition of a "minor", let's talk about the definition of contracts under California law.

Per California Civil Code:

Section 1549. A contract is an agreement to do or not to do a certain thing.

Section 1550. It is essential to the existence of a contract that there should be:
1. Parties capable of contracting;
2. Their consent;
3. A lawful object; and,
4. A sufficient cause or consideration.

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