"Contract Law" (textbook)

Contract law is the area of law that governs agreements between parties. It ensures that when people or organizations make promises—such as buying a product, providing a service, or renting property—these promises are legally binding and enforceable. To be valid, a contract generally requires mutual consent, clear terms, and consideration (something of value exchanged). If one party fails to fulfill their promises, the other can seek legal remedies, like damages or specific performance. Overall, contract law provides a framework to create trust, specify rights and obligations, and resolve disputes arising from agreements.