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 Classification Of Contracts According To English Law


The English law classification the contract into:

a.  Formal contract

b.  Simple contract

The formal contracts include:

a.  Contract of record
A contract of record is either a judgment of a court or a  recognisance. A judgment is an obligation imposed by a court upon one or more persons in favor of another or others. As a matter of fact it is not a contract in the real sense, since it is not based upon any agreement between the two parties. A recognisance is a written acknowledgement of a debt due to the state. Thus, contract of record derive their binding force from the authority of the court.


b.  Contract under seal
A contract under seal is one which derives its binding force from its form alone. It is written and is signed, sealed and delivered by the parties. It is also called a deal or a specialty contract.

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