What is Contract Law?

n this video, we discuss and important aspect of the agreements we make in the private domain and in our private associations and ministries.
One of the most important things you do in the private domain is have those members sign a membership agreement which is a contract between you and the member.

Contracts are promises that the law will enforce. Contract law is generally governed by state common law , and while general overall contract law is common throughout the country, some specific court interpretations of a particular element of the contract may vary between the states.
If a promise is breached, the law provides remedies to the harmed party, often in the form of monetary damages, or in limited circumstances, in the form of specific performance of the promise made.

Burton’s Legal Thesaurus 4th addition
CONTRACT, verb accept an offer, agree, contrahere, covenant, engage, enter into, locare, make a bargain, make terms, obligate oneself, pledge, promise, undertake, un­dertake by contract

Burton’s Legal Thesaurus 4th addition

A contract is an agreement between parties , creating mutual obligations that are enforceable by law . The basic elements required for the agreement to be a legally enforceable contract are: mutual assent , expressed by a valid offer and acceptance ; adequate consideration ; capacity ; and legality . In some states , elements of consideration can be satisfied by a valid substitute. Possible remedies for breach of contract include general damages , consequential damages , reliance damages , and specific performance .

Blacks Law
Contract: An agreement between two or more persons which creates an obligation to do or not to do a particu­ lar thing. As defined in Restatement, Second, Contracts A contract is a promise or a set of promises for the
§ 3: "breach of which the law gives a remedy, or the perform­ ance of which the law in some way recognizes as a duty." A legal relationship consisting of the rights and duties of the contracting parties; a promise or set of promises constituting an agreement between the parties that gives each a legal duty to the other and the right to seek a remedy for the breach of those duties. Its essentials are competent parties, subject matter, a legal consideration, mutuality of agreement, and mutu­ality of obligation.

Law: that which is laid down, ordained or established: A rule or method according to which phenomena or actions co-exist or follow each other. hat which must be obeyed and followed by citizens subject to sanc­ tions or legal consequences is a law. Law is a solemn expression of the will of the supreme power of the State. Calif.Civil Code, § 22.
The "law" of a state is to be found in its statutory and constitutional enactments, as interpreted by its courts, and, in absence of statute law, in rulings of its courts. Dauer's Estate v. Zabel, 9 Mich.App. 176, 156 N.W.2d 34,
37.

In old English jurisprudence, "law" is used to signify an oath, or the privilege of being sworn; as in the phrases "to wage one's law," "to lose one's law.”
Blacks Law 6th edition
Governing Laws
Contracts are mainly governed by state statutory and common (judge-made) law and private law (i.e. the private agreement). Private law principally includes the terms of the agreement between the parties who are exchanging promises. This private law may override many of the rules otherwise established by state law. Statutory law, such as the Statute of Fraud , may require some kinds of contracts be put in writing and executed with particular formalities, for the contract to be enforceable. Otherwise, the parties may enter into a binding agreement without signing a formal written document. For example, Virginia Supreme Court has held in Lucy v. Zehmer that even an agreement made on a piece of napkin can be considered a valid contract, if the parties were both sane, and showed mutual assent and consideration.
https://www.law.cornell.edu/wex/contract
If you want to learn more about Contract Law with workshops and possibly a course, you might be interested in something new we are launching called Unincorporated Liberty.

Book a free call now if you are ready to get started or have questions. These calls are for faith-based health care and healing practitioners and/or ministries only.
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Disclaimer: I am not a CPA, tax advisor, attorney, bookkeeper, nor do I hold any degrees that I am not completely transparent about. I am speaking to you with my Minister hat on nunc pro tunc. By watching these videos and using the information, you are agreeing to take full responsibility for your own experience and results.

The information in these videos and on this channel are intended for members of Layne Linebaugh, DC, PHA, and by viewing you are agreeing to the bylaws of the association.