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Discuss the concept of a contract Young (1997, pg 1) defines a contract as "an agreement (usually between two people) giving rise to obligations which are enforced or recognised by law"1. The Law of Contract in England is derived from common law and dates back as far as the thirteenth and fourteenth centuries. This type of law differs from others in that it does not lay down rules or laws for the content of a contract. Throughout the history of contract law there was a laissez-faire (leave to do) approach in traditional contract law, which more or less ensured freedom of contract. The modern approach, however, has governed this and set boundaries to create greater fairness in contracts. The Sale of Goods Act 1979 for example, has provided consumers with the legal right to return goods purchased to where they were purchased from if they are not satisfactory. For a contract...

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