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Insurance Contract Disputes

An agreement between persons which obliges each party to do or not to do a certain thing. Technically, a valid contract requires an offer and an acceptance of that offer, and, in common law countries, consideration. More and more states are changing their laws to eliminate consideration as a prerequisite to a valid contract thus contributing to the uniformity of law. Contract law is the basis of all commercial dealings from buying a bus ticket to trading on the stock market. A cash compensation ordered by a court to offset losses or suffering caused by another's fault or negligence. Damages are a typical request made of a court when persons sue for breach of contract or tort.