Contracts are legally enforceable agreements between two or more parties to perform obligations resulting from bargained-for exchanges. In most contexts, state laws govern contracts, with each state having jurisdiction-specific rules regarding contract formation and interpretation that have been established by statute and/or judicially created common law decisions. This entry looks at the law regarding contracts and their application in the school setting.

Basic Requirements

In order for contracts to be valid and enforceable, agreements must generally represent a meeting of the minds and intent to be bound objectively manifested by parties with capacity to contract; be supported by valid consideration from each party to be bound; include essential terms that are sufficiently specific and definite to be enforced; be of sufficient form, such as in writing; ...

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