Incomplete contracts are agreements that do not specify all the terms and conditions necessary to cover every possible situation that may arise. This can happen because it is difficult to foresee every future circumstance or because parties may intentionally leave some details vague to allow for flexibility. These contracts often lead to disputes when unforeseen issues occur, as parties may have different interpretations of their obligations. Incomplete contracts are common in various fields, including business, real estate, and employment, where the complexity of relationships and changing conditions make it challenging to outline every detail.