law is a practical discipline; theory has no place in law. with specific references to the law of contract, discuss. word limit is 750

Contract law deals with agreements made under the consent of the parties who have a sound mind. A sound mind means they are able to understand the rules and regulations of the contract and when does it not apply and they are able to take decision on their own that is they are above a certain age, not a minor.

Explanation:

These contracts could be of any nature like agreements , for marriage, sales , shipment any other stating the rules and the limits .

Example 1:

A agrees to sell his house to B for $ 100,000 on a particular date or within 6 months' time period. If A refuses or is unable to keep his agreement with B then he/ she will be responsible and penalized as stated in the contract or according to country rules.

Example 2:

A agrees to deliver the goods to B at a fixed time on a particular day for an exchange of equal amount of petrol ( or any other thing).

If B is unwilling to pay or given equal amounts of the goods as per contract A need not deliver the goods and the contract becomes void.

Example 3:

A and B enter a contract where B has to do a certain work . But A does not let him do it. So it is up to B either to continue or discontinue at his own will.

In all of the above three scenarios we see that the law is practical. For each agreement or law disobeyed there is an alternative either breaking the law or taking other steps. IT is not just theoretical.

Example 4:

A, a singer, contract with B, the manager of a theatre, to sing at his theatre for two nights in every week during the next two months, and B engages to pay her  100  Taka  for  each  night's  performance.  On  the  sixth  night,  A  wilfully  absents herself from the theatre, and B, in consequence, rescinds the contract. B  is  entitled  to  claim  compensation  for  the  damage  which  he  has  sustained  through the non-fulfilment of the contract.

In the example above we see that A will have to pay for the damages to B caused by her absentee.

Example 5:

A  lets  to  B,  for  hire,  a  horse  for  his  own  riding.  B  drives  the  horse  in  his  carriage. This is, at the option of A, a termination of the bailment.

In this example also the termination is by wrong usage  or mis usage of the horse.

In each of the examples above the law is not just theory. It has practical applications in our daily life.