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United States contract law
United States contract law regulates the obligations established by agreement (express or implied) between private parties in US law. The law varies from state to state; there is no nationwide Federal contract law, although transactions involving the sale of goods have become highly standardized nationwide through widespread adoption of the Uniform Commercial Code. There remains significant diversity in the interpretation of other kinds of contracts, depending upon the extent to which a given state has codified its common law of contracts or adopted portions of the Restatement (Second) of Contracts.
Parties are permitted to agree to arbitrate disputes arising from their contracts. Under the Federal Arbitration Act (which has been interpreted to cover all contracts arising under federal or state law), arbitration clauses are generally enforceable unless the party resisting arbitration can show unconscionability or fraud or something else which undermines the entire contract.
==Formation==
A contract is an agreement between two or more parties creating reciprocal obligations enforceable at law. The elements of a contract are mutual assent, consideration, legally competent parties and legal purpose.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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