Commercial Contract Law

Commercial contract law governs agreements between businesses and individuals in the marketplace. It ensures that contracts—written or verbal—are legally enforceable, meaning parties are held accountable to their commitments. Key principles include offer, acceptance, consideration (something of value exchanged), and intent to create legal relations. If one party fails to uphold their side of the agreement, the other may seek remedies such as damages or specific performance through legal action. This body of law helps facilitate trade, providing certainty and protection for all parties involved in commercial transactions.