contract law

  

Definition

Body of law that governs oral and written agreements associated with exchange of goods and services, money, and properties. It includes topics such as the nature of contractual obligations, limitation of actions, freedom of contract, privity of contract, termination of contract, and covers also agency relationships, commercial paper, and contracts of employment.

Use contract law in a sentence

  • You should always know exactly what is in the contract law so that you never end up breaking it and getting a penalty.

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  • I studied contract law in law school, so I was ready to do what was asked of me by my boss that day.

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  • Contract law was the specialty of the young law graduate whose attention to detail and intellect would be quite valuable to our firm.

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