IntroductionDefinitionA contract is any legally binding agreement entered into between two parties. In the legal system, an agreement must be made between two or more people and the agreement must be entered into voluntarily. In the agreement, a lawful object must appear and must create legal obligations which may be one or more between the parties entering into an agreement. In the legal system, for a contract to become, it must have two elements which are namely offer and acceptance. Therefore, the contractual elements of offer and acceptance must be conducted by two competent parties or persons with legal skills. This is to ensure that the parties involved exchange deliberations in order to arrive at a reciprocal commitment (Chen-Wishart, 2012).OverviewIn the entire process of forming a contract, it is necessary to have proof of all the elements or processes involved in it. . There are several ways or manners to perform proof of contract. Proof of all or part of the elements of the contract may be made in writing, orally or by conduct. However, in the event of a breach of contract, there is a remedy against this breach, called in the legal system damages. Damages generally take the form of specific performance or monetary compensation and are enforceable through an injunction. Both of these types of relief or damages grant the losing party or party what is normally known in legal terms as the benefit of the agreement. Normally, the expected damages or benefit from the agreement are greater than typical damages for mere dependence, as stipulated in promised estoppels (Beale et al, 2010). From a legal point of view, the word promise is a syno...... middle of paper ......ows, AS and Cartwright, J. (2010). Anson's Law of Contracts. Oxford University Press. Chen-Wishart, M. (2012). Contract law. Oxford University Press. DiMatteo, L.A. (2010). Strategic contracts: contract law as a source of competitive advantage. American Business Law Journal, 47(4), 727-794. Epstein, D.G., Arbuckle, M., & Flanagan, K. (2010). The two EPs of contract law: promissory estoppel and the parole proof rule. Baylor L. Rev., 62, 397. Jackson, K. (2013). Enforceability of contracts and evolution of share capital. Journal of Law, Economics, and Organization, 29(1), 60-77. MacQueen, H.L. and Thomson, J. (2012). Contract law in Scotland. A&C Black. Miller, M.R. (2010). Contract law, party sophistication and new formalism. Mo. L. Rev., 75, 493. Winfield, P. H. (2013). The province of tort law. Cambridge University Press.