Law of Contract

Contract law is based around the latin phrase ‘pacta sunt servanda’, which literally means ‘promises must be kept’. Any time a contract is breached by an individual or party the law will carry out any necessary action.

Contracts are made by almost all individuals on a daily basis, with written contracts sometimes being required, e,g, when buying a house, but the majority of contracts can be produced orally, e,g, purchasing a drink at a shop. Contract law, a;png with tort, unjust or restitution, can be classified as part of a general law of obligations.