What is a Contract?

What is a Contract? Distinction is made between a legally binding contract and social agreement. The effect of entering into a contractual arrangement is also discussed. Mention is made of the elements of a contract. Copyright 2013 Lola Akin Ojelabi / La Trobe University, all rights reserved. Contact for permissions.

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In this introductory subject, students examine legal institutions and practices such as law making and interpretation of laws. The law of contract and its place in commercial law, notably the law of the sale of goods, comprise the body of the unit. Other kinds of civil liability such as fault liability are compared. Students examine the economic and political factors which have influenced the development of this law and assess the impact of the law on business and industrial activity. Students are also introduced to the legal structures available for conducting business in Australia.