Contract

A contract, also referred to as an agreement under Dutch law, is a multilateral legal act by which the parties bind themselves to render a specific performance. It is formed by offer and acceptance and derives its statutory basis from Book 6 of the Civil Code.

Contracts play a vital role in social and economic intercourse, as they afford parties certainty as to the performance of their undertakings and help avert disputes. In the absence of a valid contract, there is no legal basis on which to claim performance or damages.

In practice, contracts are frequently recorded in writing to prevent evidentiary difficulties, although an oral agreement is likewise legally valid in many instances.