Contract Agreement Categorization Task
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A Contract Agreement Categorization Task is a domain-specific document categorization task that involves classifying contract agreements into predefined contract categories.
- Context:
- It can (typically) involve Contract Analysis to identify key features such as contract type, involved parties, and contractual obligations.
- It can (often) require a deep understanding of Legal Predictions.
- It can range from being a Manual Contract Agreement Categorization Task to being an Automated Contract Agreement Categorization Task.
- It can be supported by a Contract Agreement Categorization System.
- ...
- Example(s):
- Contract Type Categorization.
- in preparation for Contract Article Segmentation and Contract Article Categorization.
- a Commercial Contract Agreement Categorization Task.
- ...
- Counter-Example(s):
- A Document Clustering Task, which groups documents based on similarity without predefined categories.
- A Legal Judgment Prediction Task, which predicts the outcome of legal cases rather than categorizing contract types.
- See: Contract Analysis, Document Classification, Legal Document Processing.
References
2020
- (Saylor Academy, 2020) ⇒ https://saylordotorg.github.io/text_legal-aspects-of-marketing-and-sales/s11-03-basic-taxonomy-of-contracts.html
- QUOTE: Some contracts are written, some oral; some are explicit, some not. Because contracts can be formed, expressed, and enforced in a variety of ways, a taxonomy of contracts has developed that is useful in grouping together like legal consequences. In general, contracts are classified along four different dimensions: explicitness, mutuality, enforceability, and degree of completion. Explicitness is the degree to which the agreement is manifest to those not party to it. Mutuality takes into account whether promises are given by two parties or only one. Enforceability is the degree to which a given contract is binding. Completion considers whether the contract is yet to be performed or whether the obligations have been fully discharged by one or both parties. We will examine each of these concepts in turn.
- NOTES:
- Contracts are classified based on explicitness, mutuality, enforceability, and degree of completion, offering a structured approach to understanding the diverse legal implications and statuses of contracts.
- Express contracts are clearly defined agreements between parties, either written or oral, where the terms are directly stated, ensuring all parties are aware of the enforceability of the agreement.
- Implied contracts arise from the actions or conduct of the parties, suggesting a mutual intention to enter into an agreement, even without explicit communication of the terms, like ordering and expecting to pay for a sandwich at a deli.
- Quasi-contracts are legal constructs imposed to prevent unjust enrichment when one party benefits at the expense of another without a formal agreement, emphasizing the law's role in ensuring fairness regardless of explicit consent.
- Bilateral contracts involve mutual promises between parties, establishing a reciprocal relationship of obligations and rights, whereas unilateral contracts are based on the act of one party in response to the promise of another, like reward offers.
- A contract's enforceability can be categorized as void, voidable, or unenforceable, with void contracts lacking legal binding power, voidable contracts being contestable by one party, and unenforceable contracts being recognized but not enforceable by law.
- The degree of completion distinguishes contracts as executory, partially executed, or fully executed, based on whether the promises within the contract have been fulfilled, offering insight into the contractual process and its fulfillment stage.
- Legal terminology often utilizes suffixes to define the relationship between parties involved in a contract, such as offeror/offeree and promisor/promisee, highlighting the importance of linguistic precision in legal contexts.