Answered

Summarize and explain how contracts
are
formed, parties
to the contract and breach of contract.
Name the author, the year published and the place it was
Published (reference)



Answer :

GinnyAnswer

Final answer:

Contracts involve mutual promises between parties with specific obligations. Parties to the contract are the individuals or entities involved, and breach of contract happens when obligations are not met.


Explanation:

Formation of Contracts

Contracts are mutual promises where each party has specific obligations to the other, interpreted on similar principles.

Parties to the Contract

Parties to a contract are the individuals or entities entering into the agreement, each with rights and obligations.

Breach of Contract

Breach of contract occurs when one party fails to fulfill their obligations, leading to legal consequences such as damages or specific performance.


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