Private law includes civil law (such as contract law, liability law and property law), labor law, commercial law, company law and competition law. Public law includes constitutional law, administrative law and criminal law. Public and private laws are also known as slip laws. A slip law is an official publication of the law and is competent evidence, admissible in all state and federal courts in the United States (1 U, S, C.
Contracts are promises that the law will enforce.
contract lawis generally governed by state Common Law, and while general general contract law is common throughout the country, some specific judicial interpretations of a particular element of the Contract may vary between states. If a promise is breached, the law provides remedies to the injured party, often in the form of monetary damages, or in limited circumstances, in the form of specific fulfillment of the promise made. According to the benefit-detriment theory, adequate consideration exists only when a promise is made for the benefit of the promisor or to the detriment of the betrothed, which reasonably and fairly induces the promisor to make a promise of something else for the beneficiary of the promise.
For example, promises that are purely gifts are not considered enforceable because the personal satisfaction that the grantor of the promise can receive from the act of generosity is usually not considered to be prejudice sufficient to constitute an appropriate consideration. According to exchange trading consideration theory, there is adequate consideration when a promising person makes a promise in exchange for something else. In this case, the essential condition is that the promising person has been given something specifically to induce the promise to be made. In other words, exchange bargaining theory is different from detriment-benefit theory in that the focus on exchange negotiation theory seems to be the parties' motive to make the promises and subjective mutual consent of the parties, whereas in the theory of benefit to the detriment, the approach seems to be an objective legal harm or benefit to the parties.
If the agreement does not meet the legal requirements to be considered a valid contract, the law will not apply the “contractual agreement” and the infringing party will not have to indemnify the non-breaching party. That is, the plaintiff (non-infringing party) in a contract dispute suing the infringing party can only earn expected damages when he is able to prove that the alleged contractual agreement actually existed and was a valid and enforceable contract. In such a case, the expected damages will be rewarded, which seeks to compensate the non-defaulting party, by awarding the amount of money that the party would have made if there had been no breach of the agreement plus any reasonably foreseeable consequential damage suffered as a result of the breach. However, it is important to note that there are no punitive damages for contractual remedies, and the non-infringing party cannot receive more than expected (monetary value of the contract, if it had been fully performed).
In another circumstance, the court may award Unjust Enrichment to a party, if the party conferring a benefit on another party, if it would be unfair for the party receiving the benefit to go unpaid. Finally, a modern concern that has arisen in contract law is the increasing use of a special type of contract known as adhesion contracts or form contracts. This type of contract may be beneficial to some parties, due to the convenience and ability of the strong party in a case to force the terms of the contract on a weaker party. Examples include mortgage agreements, lease agreements, online purchase or registration agreements, and so on.
In some cases, courts examine these adhesion contracts with special scrutiny due to the possibility of unequal bargaining power, injustice and inadmissibility. The concept of private law in customary law countries is somewhat broader, in the sense that it also covers private relations between Governments and individuals or other entities. In general, public law seeks to guarantee the public interest of the general population, since abuse of public law would affect the community. The Uniform Commercial Code, the original articles of which have been adopted in almost every state, represents a body of statutory laws governing important categories of contracts.
Therefore, the practical application of the law does not allow a clear demarcation between public and private law. The main articles dealing with contract law are Article 1 (General Provisions) and Article 2 (Sales). Essentially, the difference between public law and private law is whether the act or acts affect society as a whole or if they are a problem between two or more people. It covers several key areas of law, such as contracts, property, equity and trusts, torts, probate and family law.
Public law is the body of laws that governs the exercise of the powers of government and public authorities. Statutory law, such as the Fraud Statute, may require that some types of contracts be put in writing and executed with particular formalities, in order for the contract to be enforceable. In general terms, private law involves interactions between individuals, while public law implies interrelations between the state and the general population. A slip law is an official publication of the law and is competent evidence, admissible in all state and federal courts and courts in the United States (1 U.
The body of law that governs the relationship between individuals is known as private law. For example, a traffic accident may be filed under the private law area of tort for negligence or reckless driving by the affected individual, while a criminal case under public law may also be brought by the state for violation of motor traffic regulations. . .