A contract is a legally-enforceable promise or set of promises made by one party to another. A contract is a legally binding agreement concerning a bargain which is essentially commercial in its nature and involves the sale or hire of commodities such as goods, services or land. Contracts are enforceable in the courts. If one party meets its contractual obligations and the other party doesn’t (“breaches the contract”), the non-breaching party is entitled to receive relief through the courts. For this reason, it is important to have experienced professionals, with your best interests in mind, assist you when either reading or writing up a contract to protect you from any dangerous “loopholes”.
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