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IT IS THE TIME FOR THE DOCTRINE OF PRIVITY OF CONTRACT AND CONSIDERATION TO BE REMOVED FROM THE LAW OF CONTRACT. THEY HAVE OUTLIVED THEIR USEFULNESS. DISCUSS. The English law of contract comes originally from the common law, judge made, or court made law. In law school, we begin our study of the law of contracts by looking at cases, judicial decisions made by court in lawsuit between individual parties. Throughout most of our history, much of the law of contract has evolved through the common law process. But in the twentieth century, contract law has begun to develop statutory components. Also, in the last fifty years, states and government have increasingly regulated the fairness of transaction with consumer protection, unfair trade practices and other statutes. Some people may think of a contract as piece of paper on which two people put their signatures to bind each other to a bargain. And it...

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