Contracts Act 1950 (Malaysia)

The Contracts Act 1950 is a Malaysian law that governs agreements between people or businesses. It sets out the rules for creating valid contracts, including the need for offer, acceptance, consideration (something of value), and mutual intent to create legal obligations. The Act also outlines rights and responsibilities of parties involved, the consequences of breaches, and the types of contracts, including void and voidable ones. Essentially, it helps ensure that agreements are fair and enforceable in a court of law, providing a framework for resolving disputes if they arise.