BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A Contract is an agreement between two or more competent. parties, based on mutual promises, to do or to refrain from doing some particular thing that is. neither illegal nor impossible. The agreement results in an obligation or a duty that can be enforced. in a court of law.

Detailed explanation-2: -A contract is a legally enforceable agreement between two or more parties that creates an obligation to do (or not do) a particular thing.

Detailed explanation-3: -A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty. A legally enforceable contract requires the following elements, all of which are discussed in more detail below.

Detailed explanation-4: -Unilateral contract: Only one party is legally obliged to provide something to the others involved in this contract. Bilateral contract: An agreement where two parties trade services or commodities.

Detailed explanation-5: -A contractual obligation (or duty) is something that parties agree to do or become responsible for when they sign a contract. These obligations can vary wildly between contracts, but they will usually fall into two broad categories: A promise to do something. A promise not to do something.