In modern society, more so than in years gone bye, the use of a binding
contract between two individuals or parties has become our way of life.
The objective being to protect two parties from unscrupulous practices or
non performance of the obligations agreed upon by the individuals involved.
There are countless categories that fall under these types of agreements,
but for the sake of discussion the examples given will be very simplistic in
In day’s gone bye, a handshake or oral agreement between two parties could
be consider a contract. The issue with this type of agreement is there is
no proof to suggest a contract was formed due to lack of material
evidence. Contract examples could be defined as a Marriage license, a
Will, a trust, a lease, car rental to something as simple as an agreement to
perform a specific task.
When doing everyday business most often we do not think of signing a receipt
or other mundane paperwork as being a contract. For example when signing a
receipt when a new purchase has been delivered to our home, you have just
signed a contract stating you received your order in acceptable condition.
Therefore the obligation has now been met by the vender from which you made
your purchase and the party is no longer liable as witness by your
Understand these examples are simplified versions of where a contract could
be initiated. There are many more complex examples where legal services
should be utilized to protect all parties concerned. When in doubt always seek
out legal advice from a reputable law firm dealing in contract law.