Legality in Contract Law Understanding Key Principles
Understanding Key Principles of Legality in Contract Law
The Foundation of Contract Law
Contract law forms the backbone of commercial transactions, governing the agreements made between parties. At the heart of contract law lies the principle of legality, which ensures that contracts are formed within the bounds of the law. Understanding the key principles of legality is essential for both businesses and individuals entering into contractual agreements.
Requirement of Legal Purpose
One of the fundamental principles of legality in contract law is the requirement of a legal purpose. This means that for a contract to be valid, its purpose must