Unit 8- Contracts and other sources of obligations Flashcards
1
Q
What is a contract?
A
A contract is an agreement which is intended to give rise to a binding legal relationship or some other legal effect
2
Q
How can contracts be concluded
A
Through documents
Orally
By conducts
3
Q
Different definitions to contract
A
Roman law: Contractus –> “to bind”
Civil law: an agreement
Common law: a bargain - an exchange
4
Q
Contracts in modern society
A
Societies without contracts are conceivable in situations where the state or the community takes care of everything
5
Q
Obligations
A
A contract is essentially a source of obligation
