That body of law which regulates the enforcement of contracts. Contract law is as old as civilization, since a legal system was created to support and to facilitate trade. The English and French developed similar contract law systems, both referring extensively to old Roman contract law principles such as "consensus ad idem" or "caveat emptor". There are some minor differences on points of detail such as the English law requirement that every contract contain consideration. More and more states are changing their laws to eliminate consideration as a prerequisite to a valid contract thus contributing to the uniformity of law. Contract law is the basis of all commercial dealings from buying a movie ticket to trading on the stock market.

The law governing agreements.

The law governing the contract, usually the law of the land in which the work of the contract takes place. Where the work of a project takes place in different location s, different law may apply. This is part icularly true where the work takes place in different countries. [D02546] RMW

that branch of jurisprudence that studies the rights and obligations of parties entering into contracts