INTRODUCTION The role of contract is central to the smooth functioning of society and the commercial world. People contract on a daily basis in a variety of ways. Some of these contracts simply involve the purchase of a newspaper or a bus or rail ticket, while others involve complex commercial transactions, such as the importation of goods from overseas. A study of contract law offers a practical insight into the manner in which commercial agreements are validly created and it assists in reducing the risks inherent in business transactions.
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