Vocabulary. contract –контракт, договор

contract – контракт, договор

enforceable contract – имеющий исковую силу

contractor – контрагент, сторона в договоре

breach of contract – нарушение контракта

be in breach of contract – нарушить контракт

offer – оферта (предложение)

acceptance – акцептирование оферты (принятие предложения)

capacity – (право)способность, дееспособность

award – решение суда в гражданских делах

remedy – средство судебной защита, средство защиты права

damages (pl) – возмещение убытков

specific performance – постановление суда о выполнении условий договора

injunction – судебный запрет

Contract law is a central part of legal systems all over the world. It is the means by which exchange relations are supported. Many people think that a contract must be written and signed by the parties to the contract. This is a mistake. Simple transactions such as buying of a bus ticket or a packet of chips from a supermarket are enforceable contracts.

Agreement between the parties is an essential element of a contract. It must include an offer and an acceptance of the offer. The terms of the agreement offered and accepted by the parties must be certain and clear – that is, the contractors must know what they agree to. Another important element of an enforceable contract is the intention of the parties to be legally bound (there is no contract if, for example, the parties were just joking when they made the agreement).

Most legal systems also consider the capacity of the contractors – that is, their right to contract. There are some special rules if one of the contractors is under the age of 18, or insane; rules when one of the contractors made a mistake or was pressured or tricked into making an agreement, and rules for dealing with illegal contracts. For example, the agreement to commit a crime.

When a court decides if a contract has been made, it must consider all these elements.

A failure to comply with the terms of contract is called a breach of contract. If one of the parties fails to perform his or her obligations, the other party may apply to a court for a legal remedy. Ifthe court decides that there was a breach of contract, it must then judge how the party in breach must compensate the other party.

The usual award for the loss because of the breach is monetary compensation, or damages.

Instead of damages, the court can force the other contractor to carry out the contract. This is called specific performance.

A plaintiff may also ask the court to award an injunction against the defendant, that is, to order the defendant not to do something which would be in breach of contract.

Contracts are especially important in international business, where the parties try to specify all the parts of their agreement in a clear written contract so that to avoid differences of law and custom between their countries.

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