The Law of Contract: An Analytical Scenario of the Clarity in Agreements, Relationships, Rights and Duties of the Parties

The Law of Contract: An Analytical Scenario of the Clarity in Agreements, Relationships, Rights and Duties of the Parties

Md. Riad Hasan*

Assistant Professor

Department of Law, Shanto-Mariam University of Creative Technology

Abstract

Contracts can be considered as one of the fundamental legal instruments that reach deep into our daily life. Numerous numbers of contracts are entered into with a view to creating obligations and rights for the contracting parties. For the creation of a legal relation the contracting parties enter into a valid contract to perform their agreed task and there are also certain chances that the contract agreed to be performed may be breached. In this case, in order to protect the goals of the contracting parties along with providing them with justice, the parties who have been victims of the unlawful act of violation shall be granted such remedies. Apart from these in several cases the contract which was made between the parties is terminated due to various causes and the contracting parties of that contract may be relieved from performing their agreed task.

Keywords: Contract, Agreement, Performance, Obligation, Breach, Remedies, Termination