A contract in which all elements of a contract are specifically stated (offer, acceptance and consideration), and the terms are set out, as compared with an implied contract in which the existence of the contract is assumed by the circumstances.
A breach of contract that is so fundamental that it permits the injured party to terminate the performance of the contract, in addition to entitling that party to sue for damages.
Sometimes known as a repudiatory breach, is a breach of an essential part of a contract that it permits the distressed party to terminate performance of the contract, in addition to entitling that party to sue for damages.
A legal document, usually in writing, giving details of a formal legally binding agreement, between two or more different people or groups. To be legally binding it must contain certain elements:
it must contain an offer made by one party and accepted in its entirety by the other,
it must include some form of consideration whether it be money, goods or services, and
it must be properly signed by all parties to it, and dated.
A decision of a court regarding the rights and liabilities of the parties to legal proceedings. Judgments generally provide the court’s explanation as to why it has chosen to make a particular decision.
