Contracts are legally enforceable agreements. The law regulating contracts is a principal foundation of the Common Law. Throughout the course, students will learn to evaluate the part played by contracts in facilitating economic and social co-ordination in a free community,with particular reference to Hong Kong's context. Students will be introduced to the common law's methods, techniques and core values while developing their problem-solving, research, writing and advocacy skills. Students will gain an understanding of the differences and similarities between voluntarily assumed obligations in contract and involuntarily imposed obligations in tort. Topics include: contract formation (offer and acceptance, certainty of terms, consideration, estoppel and formalities); contractual terms (implied terms, conditions, warranties and innominate terms); parties (privity and capacity); discharge of contracts (by performance, by agreement, by frustration and by breach); remedies for breach of contract (damages, penalty clauses, specific performance, injunctions, exemption and limitation clauses); factors defeating contractual liability (illegality, public policy, misrepresentation, mistake, non est factum, duress, undue influence and unconscionability). This course deals with the rules and principles governing enforceable agreements generally and does not focus on special rules affecting specific types of contract such as employment, insurance, carriage or sale of goods.