Answer:
Find Explanation below.
Explanation:
Law is indeed a practical discipline because it affects everyday activities. A practical discipline is a subject matter that is in tune with realities. A theoretical discipline, on the other hand, is a statement of ideas or facts which might be idealistic but not realistic. With respect to the law of contract, we can infer that law is a practical discipline because contracts are required in business dealing.
A contract is an agreement between two parties which is backed by law. In business, employment, and other economic activities, contracts are reached. These contracts could be breached by either party. Elements involved in contract law include;
- Offer: This is when a proposal is made by either party.
- Acceptance: When the second party accepts the proposal, then an agreement has been reached.
- Consideration: This refers to what is sacrificed by both parties for the contract to be possible.
- Mutual Intent: This means that both parties are equally bound to the agreement.
During the interpretation of the law, the jurisdiction should be considered because state laws differ according to geography. In everyday human interactions, there are misunderstandings and breach of agreements. Lawyers help to interpret the laws of contract and this makes for a saner society.
