Legal Definitions - statutory contract

A statutory contract is a type of contract that is created and governed by a specific law or statute. It is an agreement between two or more parties that is legally enforceable.

For example, a contract between an employer and an employee may be governed by the employment laws of a particular state. This means that the terms of the contract must comply with the requirements set forth in the law.

Another example of a statutory contract is a lease agreement between a landlord and a tenant. The terms of the lease must comply with the landlord-tenant laws of the state in which the property is located.

These examples illustrate how a statutory contract is created and governed by a specific law or statute. The terms of the contract must comply with the requirements set forth in the law, and any disputes that arise may be resolved through legal action.