Area of Law: Contract law

A contract is a legally binding promise or agreement. (Halsbury's Laws of Australia [110-1] Definition)

The five major concerns of contract law analysis are: 

(1) the processes by which contracts are formed, the identification of the parties and the identification and interpretation of the terms of the contract so formed;

(2) the circumstances in which contractual agreement is affected by the presence of a vitiating factor or illegality;

(3) the requirements of contract performance and the circumstances in which breaches of contract occur;

(4) the circumstances in which a contract will be discharged and the consequences of such a discharge; and

(5) the principles governing remedies available for breach of contract.

(Halsbury's Laws of Australia [110-5] Concerns of contract law analysis)

Start finding out more about Contract Law using LexisNexis Practical Guidance - Contract Law (browse under Business).