The federal common law of contracts is the most important common law source,with state common law relative to contracts filling in gaps in the federal common law.

Name: The federal common law of contracts is the most important common law source,with state common law relative to contracts filling in gaps in the federal common law.
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Federal common law of contracts does not exist; contract law is primarily governed by state common law, with each state having its own rules and precedents.

The Federal Common Law of Contracts Is the Most Important