单选题

The Role of Contracts

Each of us enters into many contracts every day without giving the matter any thought. On the way to work, you stop at a newsstand and buy a newspaper and a pack of gum. You also go into a dinner and buy a cup of coffee and a doughnut. Afterwards, you stop at a discount ticket counter and purchase two tickets to a Broadway show. Finally, you arrive at the subway station and buy a token. In each of these examples, a contract was made. In each case, there was a valid (21) and acceptance, consideration, mutual assent, and legality. No documents were (22) and no contract (23) took place, yet (24) contracts were formed giving each party certain rights and imposing on each some responsibilities as well. Most contracts are (25) completed without a problem and without the interested parties giving the matter much thought. Problems arise when parties to a contract (26) to live up to their agreements or misunderstand what it is they agreed to do. The law of contracts is called upon to (27). the dispute between the parities in accordance with established rules of law that determine each party's rights and (28) under a valid contract. Parties can avoid many misunderstandings and disagreements between contracting parties, as well as (29) time-consuming litigation, if they have a basic (30) of the law of contracts.