The element of consideration in american contract law la consideración en los contratos
Iuris Tantum › Núm. 19, Diciembre 2008 › Sección internacional
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The element of consideration in american contract law la consideración en los contratos
According to Professor Paul Barron, the American legal System is made up of personal and property rights.1 In general criminal law, tort law, property law, and contract law refer to the way Americans organize and protect personal and property rights. According to Black's Law Dictionary a contract can be defined as an agreement that the law will enforce. 2 The word contract is usually accepted for written contracts, an agreement may be binding on both parties even if it is oral, although the Statute of Frauds requires some contracts to be in writing to be binding. In a high level point of view, Contract law vindicates private rights, but in the real practice this area overlaps with others. There are numerous doctrines and legal rules applicable to Contracts created by English and American courts over the past five hundred years. Nowadays the general study of Contracts has been divid...
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