CONTRACT

A contract is an agreement of obligations and rights between

two people (legal and/or natural) who undertake to respect
the terms agreed in writing, and submit to the laws of the
country to resolve any dispute arising around the terms of the
agreement. In each country or region of the world there are
different requirements for the preparation of a contract, but
its essence is always more or less the same.

TYPES OF CONTRACT CONTRACT ELEMENTS

Unilateral and bilateral. The contracts will be

unilateral when only one of the parties involved is
the one that acquires the obligations, while in
bilateral contracts both parties acquire obligations
of reciprocal compliance.
Expensive and free. Onerous contracts are those in
which there are encumbrances and reciprocal
benefits between the parties, and at the same time
both undertake a certain amount of sacrifice
commutative and random. This classification applies
only to bilateral contracts, since commutative
contracts are those in which the services promised
by the parties are certain from the moment the legal
act is celebrated, as in the sale of a property.
Main and accessories. The main contracts are
autonomous pieces of jurisprudence, they do not
depend on anyone, while the accessory contracts
are supplementary to a main contract on which they
depend.
Instantaneous and successive tract.
Instant or single tract contracts are
those that are fulfilled instantly
when they are entered into.
Consensual and real. Consensual
contracts are those in which the
manifest agreement of the parties is
enough and more than enough to
establish the agreement; while real
contracts end when one party
delivers to the other the thing to be
agreed upon.
Private and public. This
classification depends on whether it
is whether the people who sign it
are private entities (third parties),
or whether it is a contract with the
State, respectively.
 Consent: it is the free and voluntary
manifestation in which the holder
unquestionably expresses his will to accept
the contract.
 Object: is the good(s) or service(s) that are
contemplated in the exchange that occurs in
the contract.
 Capacity: each party that participates in the
contract must be legally valid to claim the
rights they agree on and to comply with the
obligations established in the contract.
 Cause: it is the reason or purpose of the
contract, it is the fact that explains and
justifies the creation of the obligations and
rights of the parties.
 Form: It is when a certain form is required to
celebrate the contract (written, signature
before a notary, before witnesses, etc.)
although this form may vary depending on the
type of contract and even be oral.