In Pennsylvania, a contract is an agreement between two or more parties that is enforceable by law. Contracts can be made orally or in writing, but certain types of contracts must be in writing to be enforceable.
To be enforceable, a contract should have the following elements:
- Offer: One party must make an offer to the other party.
- Acceptance: The other party must accept the offer.
- Consideration: Each party must give something of value to the other party.
- Mutual assent: Both parties must agree to the terms of the contract.
In addition to these elements, certain types of contracts must be in writing to be enforceable. These include contracts for the sale of real estate, contracts for the sale of goods for $500 or more, and contracts that cannot be performed within one year.
If one party breaches a contract, the other party may be able to sue for damages. Damages are intended to compensate the non-breaching party for their losses. The amount of damages that can be awarded will depend on the specific facts of the case.
If you have any questions about Pennsylvania contract law, contact us today.
