Abstract

A contract is a consensual expression of the will of two or more entities aimed at achieving the permissible legal effects which consist in the creation, termination or change of a certain legal relationship. A contract is a bilateral legal transaction, ie it arises only if there is a consensual expression of the will of two or more entities, as opposed to unilateral legal transactions where the legal effect arises by a statement or on the basis of a declaration of will of one party. Contracts are most common in trade, civil, labor and other branches of law

Keywords

Business, Contract, Negotiation, Pacta Sunt Servanda, Law