Law of Contract and Specific Relief Dr Avtar Singh Advocate B Com, LL M, LL D (Luck). Saraswati Sammaan (U.P. Govt.) Vidya Bhushan Sammaan (Hindi Sansthan, U.P.) Ex-Visiting Professor of Business Laws, IIM, Lucknow Ex-Reader in Law, Lucknow University EastErn Book Company LUCknoW.

A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. Contract law is based on the Latin phrase pacta sunt servanda (literally, promises must be kept).

Breach of a contract is recognised by the law and remedies can be provided. Almost everyone makes contracts everyday.

Sometimes written contracts are required, e.g., when buying a house. However the vast majority of contracts can be and are made orally, like buying a law text book, or a coffee at a shop. Contract law can be classified, as is habitual in civil law systems, as part of a general law of obligations.

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