Contract law reflects principle elements of economics. The Wealth of Nations underlines this as they find principle element of offer & acceptance. The Wealth of Nations describes how individuals engage in commerce for personal gain, & contract law states that a contract is formed only when their is a bargained for exchange of something of value.
Regards, Kimball law
A contract is an contract joined into willingly by two events or more with the objective of developing a lawful responsibility, which may have components in composing, though agreements can be made by mouth. The solution for violation of contract can be "damages" or settlement of money.
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