Brian Olson Mrs. Golden Business Law 8 January 2001 Contract Definition Paper A contract is a binding agreement made between two competent parties that can be written verbal or implied. The purpose of a contract is to create an agreement that can be supported by the law (West’s Encyclopedia). As we enter the new millenium, and with the increase in the number of businesses (including e-commerce), we need to know more and more about contract law. …showed first 75 words of 1235 total…

…showed last 75 words of 1235 total…spoken. An example of this would be paying bus fare to ride Valley Transit to travel. Without speaking there is an agreement involved. My suggestion for getting into contracts is to get things in writing because it is so hard to prove verbal agreements in a court of law. Works Cited Mietus, Adamson and Edward Conry. Applied Business Law. Cincinnati: South-Western Publishing Co., 1988. West Legal Dictionary. Online. http://www.wld.com/confus/weal/wcontral.htm.