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== Summary of the law== | == Summary of the law== | ||
[[File:Consumer_Law_and_Debt_-_Contracts_Overview.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]] | |||
=== The common law of contracts=== | === The common law of contracts=== | ||
Under common law, the following '''fundamental elements''' must be present before the courts will enforce an agreement. | Under common law, the following '''fundamental elements''' must be present before the courts will enforce an agreement. | ||
==== Intention to make a contract==== | ==== Intention to make a contract==== | ||