Promissory estoppel legally enforces promises if reliance causes harm. Learn its requirements and see examples to understand how it prevents injustice in agreements.

When two or more people strike a bargain, and each party to the agreement promises to give something up in order to get something else in return, those individuals have created what is known as a ...

Identify the purpose of the transaction, which dictates its structure. Determine whether the transaction: involves the provision of goods (for more information, see Sale of Goods Agreement (Pro-Buyer) ...

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 ...

Although legal terminology can make reading and understanding a contact challenging, the principals involved are straightforward. A contract written on a cocktail napkin is just as valid as one ...

Indemnification is used for risk allocation Indemnification may include defense obligation Indemnified party is entitled to reimbursement for covered losses Indemnification can be complex and heavily ...

More businesses are using automated “smart contracts” to handle transactions. Based on blockchain technology, these contracts execute automatically and are lauded as a way to efficiently digitize ...