Contracts and agreements play a central role in both personal and business relationships. They help define expectations, responsibilities, and legal obligations between parties.
Understanding how contracts work under Ghanaian law helps individuals and businesses avoid disputes and protect their interests.
What Is a Contract?
A contract is a legally binding agreement between two or more parties. It usually involves an offer, acceptance, consideration, and the intention to create legal relations.
Types of Contracts and Agreements
Contracts may be written, verbal, or implied depending on the situation. Common examples include employment contracts, service agreements, lease agreements, and sales contracts.
Why Contracts Are Important
Well-drafted contracts reduce uncertainty and provide legal protection if disputes arise. They help ensure that all parties understand their rights and obligations.
Disclaimer: This article is for educational purposes only and does not constitute legal advice. For advice specific to your situation, please consult a licensed lawyer.