{"id":26893,"date":"2022-09-05T03:28:18","date_gmt":"2022-09-05T03:28:18","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/amjur\/contracts-sect-1.html"},"modified":"2022-08-25T11:47:42","modified_gmt":"2022-08-25T11:47:42","slug":"contracts-sect-1","status":"publish","type":"amjur","link":"https:\/\/reference.findlaw.com\/amjur\/contracts-sect-1.html","title":{"rendered":"Am Jur 2d – Contracts \u00a7 1"},"content":{"rendered":"
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I. In General, A. Definitions, \u00a7 1 – Contract<\/h2>\n

A contract has been defined as an agreement to do, or refrain from doing, a particular thing,[1<\/a>] upon a sufficient consideration.[2<\/a>] Similarly, a “contract” has been defined as an agreement, obligation, or legal tie by which a party binds itself, or becomes bound, expressly or impliedly, to pay a sum of money or to perform or omit to do some certain act or thing.[3<\/a>] Also, a “contract” has been defined as a private, voluntary allocation by which two or more parties distribute specific entitlements and obligations.[4<\/a>] A “contract” is an agreement between two or more parties that creates obligations that are legally enforceable by the contracting parties.[5<\/a>] A “contract” is an agreement between two or more parties creating obligations that are enforceable or otherwise recognizable at law.[6<\/a>] A “contract” is an agreement by two or more parties whereby obligations are created, modified, or extinguished.[7<\/a>]<\/p>\n

A contract is an obligation which arises from actual agreement of the parties manifested by words, oral or written, or by conduct.[8<\/a>] The term “contract” has been held to include every description or agreement or obligation, whether verbal or written, by which one party becomes bound to another to pay a sum of money or to perform or omit to do a certain act.[9<\/a>]<\/p>\n

The Restatement defines the term “contract” as a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty,[10<\/a>] and this definition has been adopted by some courts.[11<\/a>] However, this has been criticized as a circular definition: it is the same as saying that a contract is a legally enforceable promise, but a promise is legally enforceable only if it is a contract.[12<\/a>]<\/p>\n

A contract is not a law, nor does it make law: it is the agreement plus the law that makes the ordinary contract an enforceable obligation.[13<\/a>]<\/p>\n

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Caution:<\/div>\n

The following types of contracts are subject in some respects to special rules that depend on their formal characteristics and differ from those governing contracts in general:[14<\/a>]<\/p>\n