Commercial contracts are legally binding agreements between two or more parties that outline the terms and conditions of a business transaction. These contracts can cover a wide range of activities, such as the sale of goods, provision of services, or partnership arrangements. They help ensure that all parties understand their rights and obligations, reducing the risk of disputes. Key elements of commercial contracts include the offer, acceptance, consideration, and mutual consent of the parties involved. Common types of commercial contracts include sales agreements, service contracts, and lease agreements. Properly drafted contracts can protect the interests of all parties and provide a framework for resolving any issues that may arise.