Byron agrees to sell to Charity, for $1,500, a remote parcel of land. They be-lieve the land to be worthless, but beneath it is a gold mine. A court would

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19-12-2022
Law

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Byron agrees to sell to Charity, for $1,500, a remote parcel of land. They be-lieve the land to be worthless, but beneath it is a gold mine. A court would

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AnkitM AnkitM · Answer 1 · 2022-12-21T12:52:52-05:00

Byron agrees to sell to Charity, for $1,500, a remote parcel of land. They believe the land to be worthless, but beneath it is a gold mine. A court would enforce the contract.

The simplest definition of a contract is a commitment that is legally binding. The commitment could be to carry out or abstain from a certain action. A contract must be made by two or more parties who must agree to it, with one of them typically making an offer and the other accepting it. The opposite party is entitled to legal action if one of the parties breaks their pledge. The law of contracts examines issues such whether a contract exists, what it means, whether it has been broken, and how much compensation the damaged party is entitled to.

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