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Did You Know?

In 1908, The Wright Brothers Signed Their First Plane Contract

In 1908, The Wright brothers signed their first contract for the delivery of a plane, establishing the record of a bid-to-contract time frame of five days. The contract deal was for $25,000.

Contracts form the basis for all business agreements. Any time you or your company agree to take some action or make a payment in exchange for anything of value, a legal contract has been created. By definition a contract is an agreement in legal form between two or more parties to do or not do some legal act. Contracts can be either an express contract or an implied contract. An express contract is one in which the terms are expressed verbally, either orally or in writing. An implied contract is one in which some of the terms are not expressed in words.

When a contract has been violated for any reason it is known as breach of contract. Since both parties are legally bound by the contract, the party that breaches the contract can be sued for money damages. If you have entered into a contract that has been breached, Virginia Contract Lawyers can help you recover damages.

Since a contract can have serious legal ramifications, it should not be entered into lightly. A competent Virginia Contract Lawyer has the expertise to help you avoid the pitfalls of contract law.

Some common contract terms include:

  • Acceptance
  • Breach of Contract
  • Conditions
  • Liability
  • Offer
  • Underwriter
  • Warranty

Contact our
Virginia Contract Lawyer Now!

Virginia Audio

Halliburton Workers Testify about Contracts

AUDIO, RM, 48 Kbps, 3:24, 7/22/2004

Employees and executives of Halliburton and its subsidiary KBR discuss the company's Iraq contracts on Capitol Hill. Former employees, described by some as "whistleblowers," testify about what they say was bad performance and over-charging by the com
Source: NPR

Virginia External Sites

Department of General Services - Division of Purchases

“Virginia state government spends more than $4 billion every year,” said Governor ... For years, Virginia’s disparate systems for purchasing goods an
Description View/Download Entire List Contract Buyer NI

Please Note: Contract listing for VITA can be accessed at: Number, NIGP, Description, Restri


News about contract cases in Virginia and nationwide:

Contractors State License Board Provides Information On New Contracts Requirements

Sacramento -- The Contractors State License Board (CSLB) is reminding all Contractors that new requirements go into effect on... Read more >

Contract May Also Involve Responsibility

WASHINGTON, DC - The U.S. Agency for International Development (USAID) announced today the award of a multi-million dollar Iraq emergency infrastru... Read more >

More Contract News >

Business Topics

  • Acceptance
  • Breach of Contract
  • Conditions
  • Liability
  • Offers
  • Underwriter
  • Warranty
  • Competent Parties
  • Mutual Assent
  • Consideration

More Contract Topics

Business Terms

Action Ex Contractu

A legal action for breach of a promise stated in an express or implied contract.

Exculpatory Clause

A contractual clause that releases one party from liability in case of wrong doing by the other party involved.

Quid Pro Quo

A mutual consideration which passes between the parties to a contract, and which renders it valid and binding.

More Contract Terms

Business Resources