NATURE OF LAW OF CONTRACT
The law of contract is that branch of law which determines the
circumstances in which a promise
or an agreement shall be legally binding on the person making it. Unlike
other branches of law,
law of contract does not state a number of rights and duties, but lays
down certain limiting
principles within the framework of which the parties to an agreement may
lay down their own
terms and conditions. These will be upheld by the courts as long as they
do not infringe upon any..
The law of contract is that branch of law which determines the
circumstances in which a promise
or an agreement shall be legally binding on the person making it. Unlike
other branches of law,
law of contract does not state a number of rights and duties, but lays
down certain limiting
principles within the framework of which the parties to an agreement may
lay down their own
terms and conditions. These will be upheld by the courts as long as they
do not infringe upon any..
