Contracts with people

Many people think of the contracts as a written agreement between people stating the exact details of promises they have made each other.
There are many kinds of unwritten agreement between people which the law of most countries describes as contracts. They may continue buying and selling things for years by relying on trust and common sense.
The problem with unwritten contracts is that it may be very difficult to show evidence of the agreement you made.
Of course problem of evidence can arise even when there is a detailed written agreement. Indeed a court of law may decided that the contract consist not just of the written document you passed but includes things that were said but never written down. The contract may even include things that the contractors understood but never talked about.
English law textbooks often describe a contract as an agreement which is made between two or more parties and which binding in law. The parties must agree to contract on certain terms – they must know what they are agreeing to. Valuable consideration must have been given by the person to whom the promise was made. Valuable consideration is the principle behind this phrase in that...

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