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A contract is a legally binding agreement between two or more parties that creates obligations to do or not do certain things.

A valid contract must include an offer, acceptance, consideration, legal capacity, and a lawful purpose.

Contracts can exist in various forms, including written contracts, oral contracts, and implied contracts.

Contracts involving real estate, marriage, the sale of goods over a certain value, and agreements that cannot be performed within one year must always be in writing to be enforceable.

A breach of a contract occurs when one party fails to fulfill their obligations as outlined in the agreement.

The injured party may seek damages or specific performance in court as a remedy for a breach of contract.

A remedy is a legal means of enforcing a right or correcting a wrong, such as through monetary compensation or performance of the contract as originally agreed.

The party who breached the contract is typically responsible for compensating the injured party for any losses suffered as a result of the breach.

Damages refer to the monetary compensation awarded to the injured party to make up for any losses or harm caused by the breach of contract.