Contracts create obligations. Obligations can be substituted with penalties. "We will attempt to acquire you. If we can't, we pay you a breakup fee." If you

Contracts create obligations. Obligations can be substituted with penalties. "We will attempt to acquire you. If we can't, we pay you a breakup fee." If you had formal contracts around informal things like babysitting, you'd end up requiring licensed and bonded babysitters. "Henceforth, unto be known, babysitting shall commence at 1500 on Thursday, June 22, in the year of our lord 2014. Unto forthwith, inability to sit for baby will result in a $1 (one) million dollar ($) penalty payable in DOGE." Not sure how "forming a coffee club" requires a contract unless "gourmet coffee" is code for "meth distribution."