The Chanute times. [volume] (Chanute, Kan.) 1897-1913, 1906-05-18

CONTRAC rs.
Importance of Subject. Difference
Between Contract and Agree
ment. Express and I'm
piled Contracts. The
Consideration,
The law of contracts lies at the
foundation of nearly every branch of
the law. 1t is, therefore, the first and
most important subject not only for
the law stndent, who is studying law
for the purpose of practicing, but for
the layman, who wants to understand
in a general way his legal rights and
obligations.
We are making contracts day by
day usually unconscious of the fact
When l hail street car and 1t stops
for me and l step aboard, enter into
cont act with the corporation that
yns and operates the car, for a breach
OF which | am liable to damages, as
is the corporation. Every time l buy
something in store, no matter II
it be a steam engine or pin, | am
making contract. In hiring servants
aud agents, in renting and subletting
property, in buying provisions for my
table, in buying tickets for an enter
tainmeni-in fact In almost every act
that is not purely social in its nature
l am entering into contract. Indeed
business is but another Eame for the
making and executing of contracts.
The Importance. therefore, of ones
knowing at least the general princi-
pies of contract is evident.
Some persons use the words 'agree-
ment" and contract" as synonymous
that is. as meaning the same thing.
A contract is always an agreement,
either expressed or understood, but
an agreement is not always contract
| may make an agreement with you
and spend an evening at your home.
but that Is not contract l am
bound by the rules of etiquette ano
good morals to fulfill the agreement,
but 1 am not bound by law to fulfill
it, and in case do not fulfill it. l am
not bound by the law to suffer dam
ages by reasen of my failure; nor could
you 90 into court and compel me to
fulfill it.
Therefore one distinction between
a contract and an agreement IS that
the former is an agreement enforcible
at law, that is, an agreement that the
law will either compel me to perform
or compel me to pay damages for fail
ing to perform, while the latter is not
so enforcible
Another distinction between an
agreement and a contract is this: The
law says that in contract man
legal relations, that Is,
he intends to put himself under legal
obligations, and in an agreement he
does not so Intend. his purpose being
merely to bind himself by social OBJ
legation. We have nothing to do IN
these talks with merely social obliga-
tionS; we treat only Of such engage
ments or agreements as the law holds
binding.
We distinguish. too, between kinds
OF contracts; for instance, contracl
may be express or it may be Implied.
Az express contract is enc where the
terms are expressed or stated, either
orally or in writing. An implied con
tract is one where the facts in con-
nection with the matter are such that
the law will infer certain things. II
90 into store where l have credit.
take up an article and say to the clerk
II will take this. Charge it to me, "
the contract is not an express con TIC
there is no price set, no time of pay
ment indicated, no promise of pay
ment. The law, however, infers that
l have made a promise to pay reas
enable price for the article in reas-
enable or customary time.
We often hear it said contract is
not good Without consideration"
or that a contract must have consid
GRAFTON to support it. The meaning
of this is simply that a promise can
not be enforced in law unless some
thing is paid or promised to be paid
for the promise. or unless the person
to whom the promise is made has done
or suffered some loss by de
D ending on the promise. If promise
to make you present and fail TO do
so you cannot hold me In law account
able for breaking my promise, no mat
ter how much Inconvenience or uD-
it may cause you, If how
ever, 1 promise to do something for
you or give you something In consld-
GRAFTON Of your paying me some thing
no matter how small, or doing some
thing for me, or suffering some loss, /
can be held to the promise. 1t Is in
this sense that the law requires that