Contracts can be a single page or Biblical in size. The can be simple or very complicated, but there are some points to remember about every contract. First, who are the parties involved? Are you contracting with a person, a company or a combination of both, (including people and companies)? Second, what are the obligations of the contract? What is “owed” to you–and what do you “owe” the party? Finally, what constitutes breach, or the failure to perform the contract, by all of the parties? These three factors–parties, obligations and breach–are a good starting point to understanding any contract. Read more here.