GENERAL PRINCIPLES OF CONTRACT LAW

Abstract

Stephen F. Matthews and Timothy W. Triplett Department of Agricultural Economics, University of Missouri-Columbia Farmers make many different types of contracts each year. A contract is made when they hire someone to haul their hay. When they buy fertilizer on credit, or when they purchase a new tractor. Many farmers' day-to-day transactions are so commonplace that they give no thought to the fact that a contract is involved.