United States contract law

In United States law Contract law refers to a field of law that deals with the origins and effects of contracts. In the United States there is no uniform system of private law because the power lies with the individual states to do so. Nevertheless, there are in contract law great matches that are rooted in the heritage of English common law, the introduction of the Uniform Commercial Code and the Restatement ( Second) of Contracts. On the origin of a contract must be under U.S. law five CONDITIONS be met: 1 offer and acceptance ( offer and acceptance ) second consideration (~ return ) 3 intention to create legal relations ( legal binding will) 4 legal capacity (~ capacity) 5 formalities (formal requirements ).