Define Law of contract

Define Law of contract

There have been several definition presented for Law of contract but there are 2 very important definitions which are going to state below.

A contact is agreement between two or more parties to do or not do a certain act and this agreement is binding on both parties in a way that failure to comply will result in consequences. The agreement is enforceable by law.

Salmond’s definition

An agreement creating and defining obligation between the parties.

Contract act 1872

An agreement enforceable at law is a contract.