Law of Contract in Australia

The Law of Contract in Australia governs agreements between parties, ensuring that promises made can be legally enforced. For a contract to be valid, it must have an offer, acceptance, consideration (something of value exchanged), and mutual intent to create legal relations. Contracts can be written, oral, or implied by conduct. If one party fails to fulfill their obligations, the other party may seek legal remedies. The law aims to protect the interests of all parties involved and ensures fair dealings in both personal and commercial transactions.