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A treaty is an agreement applicable by law, in which any promise and series of promises that constitute the mutual consideration is an agreement. Contract law is the most important part of commercial law, since each commercial transaction is an agreement between or more people. The objectives of contract law are to introduce clarity into commercial and other transactions. The restrictive pact – is often included in long-term contracts and employment contracts in order to prevent parties from cooperating with competitors for the duration of the agreement and for a certain period of time. [10] If the purpose of the contract is illegal, no one can enforce the contract. A contract for the sale of illicit drugs is contrary to public order and unenforceable. Franchising – trade agreements that allow a company to trade with a product or service controlled by another. An expression of absolute and unconditional consent to all the conditions defined in the offer. It can be oral or written. Acceptance must be exactly the exact amount of the initial offer. The court may issue an order of the “specific benefit” that requires the performance of the contract.

In certain circumstances, a court will order a party to keep its promise (a “specific benefit order”) or to issue an injunction known as an “injunction of omission” that a party will refrain from doing something that would be contrary to the treaty. Some benefit is available for breach of a contract to sell land or real estate with reasons such that the property has a unique value. In the United States, through the 13th Amendment to the U.S. Constitution, the specific provision in personal service contracts is only legal, “as punishment for a crime whose criminal must be wrongly convicted.” [144] A term may be explicit or implied. [78] An explicit term is indicated by the parties during the hearing or written in a contractual document. The implied terms are not specified, but they are nevertheless a provision of the contract. Violation of the treaty – the inability of a party to meet its part of the contract. An infringement nullifies the entire contract and may lead to the cancellation of the agreement of the party that is violated. Contract theory is the text that deals with normative and conceptual issues in contract law. One of the most important questions in contract theory is why contracts are applied.