Contracts Law is a branch of legal study and practice that governs the formation, interpretation, and enforcement of agreements between parties. It establishes the rights and obligations that arise from contractual relationships, ensuring that promises made are fulfilled. Contracts Law covers various aspects such as the elements required for a valid contract (offer, acceptance, consideration, capacity, and legality), as well as remedies available for breach of contract. This area of law is fundamental in both commercial and personal transactions, providing a framework for resolving disputes and promoting fair dealings.