NationMaster - Encyclopedia: Formal contract

A formal contract is a contract where the parties have attempted to spell out all the terms, while an informal contract is one where the parties have not attempted to spell out all the terms. A contract is any legally-enforceable promise or set of promises made by one party to another and, as such, reflects the policies represented by freedom of contract. ...

Categories: Law stubs | Contract law

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CATHOLIC ENCYCLOPEDIA: Contract (3638 words)
	Contracts, then, entered into because of accidental mistake which was induced by the fraud or misrepresentation of the other party, will be rescindable at the option of the party deceived.
	Some contracts, such as marriage, thus entered into under the influence of grave fear unjustly caused by the other party to the contract with the intention of compelling consent, are made invalid by canon law.
	A valid contract imposes on the contracting parties an obligation of justice to act conscientiously according to the terms of the agreement.

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