In your own words, give a brief explanation of the following legislation applying to real estate. Contract Law aus
Contract law in Australia governs the agreements made between parties in real estate transactions. It establishes the legal framework for creating, enforcing, and interpreting contracts related to the sale, lease, or management of property. Key principles include the requirement for a valid offer and acceptance, consideration (something of value exchanged), and the intention to create legal relations. Additionally, contracts must be in writing for certain transactions, such as the sale of land, to be enforceable. Contract law also addresses issues like misrepresentation, breach of contract, and remedies available to parties in case of disputes. Overall, it ensures that real estate transactions are conducted fairly and