Contract Law

Contract law in Australia governs legally binding agreements between parties. It is a core part of civil law, and its principles are derived from both common law (court decisions) and statutory law (laws enacted by Parliament).

Contract law is fundamental to both commercial and personal transactions in Australia. It governs the creation, interpretation and enforcement of agreements between parties ensuring that there is legal certainty and predictability in business dealings.

When a valid contract is breached, the injured party can seek remedies such as:

• Damages where compensation for losses are received.
• Specific Performance where the Court orders the breaching party to fulfill their part of the agreement.
• Injunctions where the Court orders to prevent certain actions.
• Rescission where the Court cancels the contract and restores parties to their pre-contract positions.