Contracts: the basics

What is a valid contract? In Quebec, a contract is an agreement between at least two people, which is intended to be legally binding. Generally, in order for a contract to be valid, the contract and its formation process must respect the following fundamental principles: (1) each party must have consented willfully to the contract; (2) each party must have acted in good faith during the negotiations leading up to the contract and the effects to each party created in the contract must not be unreasonably excessive; and (3) the contract must not violate a rule of public order. What.

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