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Commonly Asked Questions about USA Legal Contracts

A common law marriage exists if the two persons are legally free to marry, if it is the intent of the two persons to establish a marriage, and if the two are known to the community as husband and wife.
FindLaw provides free access to a large archive of sample contracts from public companies that cover a variety of practice areas. You can search by type, such as compensation, finance, business formation, intellectual property licenses, business planning, business operations, corporate, or securities. Contracts - Corporate Counsel - FindLaw findlaw.com contracts findlaw.com contracts
Common-law contracts can be either bilateral or unilateral. Additionally, all common-law contracts must contain valid consideration. This means that there must be a bargained-for exchange of acts or promises, and both parties must incur new legal detriment or obligations as a result of the contract.
For a contract to be valid and recognized by the common law, it must include certain elements-- offer, acceptance, consideration, intention to create legal relations, authority and capacity, and certainty. Without these elements, a contract is not legally binding and may not be enforced by the courts.
Sources of contract law are grouped into four: the Constitution, federal and state statutes, federal and state case law, and administrative law. There are different elements of contract law, namely certainty, offer consideration, Mutuality, signatures, Capacity, and legally accepted terms.
Generally, to be legally valid, most contracts must contain two elements: All parties must agree about an offer made by one party and accepted by the other. Something of value must be exchanged for something else of value. This can include goods, cash, services, or a pledge to exchange these items.
Contract law is governed by the common law and the Uniform Commercial Code UCC. Common law governs contractual transactions with real estate, services, insurance, intangible assets and employment. UCC governs contractual transactions with goods and tangible objects (such as a purchase of a car).
The UCC applies to the sale of goods and securities, whereas the common law of contracts generally applies to contracts for services, real estate, insurance, intangible assets, and employment.
American law is based on common law from the United Kingdom as one of its core legal pillars (which is then buttressed by, among other sources, the U.S. Constitution, court cases, statutes, restatements, decrees, treatises, and various other rules and regulations).