Contract law is the fundamental building block of all commercial relations. A
contract is quite simply an agreement between two or more legal entities, which the law recognises and enforces.. This could be humans or companies or both! Not all agreements are enforceable - if your mother offers to take you to lunch and doesn't turn up you are unlikely to be able to sue her, but if you book a band for a concert and they fail to appear you can probably
claim damages for breach of contract.
Contract law explores and explains which agreements are enforceable and which aren't. It also looks at remedies - how much will the courts award by way of damages; will a seller be forced to
provide you with the promised goods or is your claim merely for damages?
Contract law looks at what types of entity can contract and what elements
need to be present for a court to recognise a contract as valid and
enforceable. Contract law is essential for an understanding of all commercial
relations and with Tort law an restitution forms the basis of all obligations
in English Law.