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| What is a Contract?
A Contract is a written or oral statement between two or more persons. In this statement they make certain rules what each party will respect for their own benefit. Of course if a party doesn't oblige the contract then he can be taken to court.
For example you make a contract with a supplier, you need 50t of grain until the end of the month, if the supplier delivers the agreed amount then you pay him. Now if he misses the deadline you can sue him or ask for consolidation fee. If the grain is delivered and you didn't pay him then the same thing can happen to you, court or extra fee. | | | | |
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