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Any first year law student will tell you that a contract requires three things: an offer, acceptance, and consideration.
In plainest terms, this means that there must be an offer to do (or not do) something, an acceptance of that offer, and an exchange of something of value by both parties (i.e., consideration).
Of course, there is much more to contracts than what this simple formula may imply. Indeed, contracts can be, and often are, very complex things.
However, understanding the basics of contract law is important for everyone. Most people do not realize how much contracts affect our everyday lives.
To name just a few common examples, we enter into contracts to purchase homes, buy or sell cars, maintain our lawns, open credit accounts, buy sporting tickets, download software, join a gym, rent an apartment--and the list goes on.
The purpose of this guides is to aid the public and Colorado librarians in researching information related to contracts.
The guide identifies key areas and related information and includes both print and free online resources.
Please remember that this guide is not an exhaustive list of materials or resources.
Google provides an easy to use search engine for finding information on the Internet. For example, you could search for "Contracts and Law" to pull up some of the resources that are listed elsewhere in this guide. When using Google, or any other search engine, it is important to remember that you will find both reliable and unreliable sources of information. The following questions will help you evaluate the reliability of information you find online.