Australian Contract Law

Australian contract law governs agreements made between parties. For a contract to be valid, it must have several key elements: offer, acceptance, intention to create legal relations, and consideration (something of value exchanged). Contracts can be written, verbal, or implied by conduct. If one party fails to fulfill their obligations, they may be in breach of contract, leading to potential legal remedies, such as compensation or specific performance. The law aims to enforce promises and ensure fairness in commercial and personal dealings, balancing the rights and responsibilities of all parties involved.