Contract law is a body of law that governs agreements made between two or more parties. It is an important part of civil law and is used to resolve disputes related to contractual agreements. The basic tenets of contract law are to ensure that contracts are legally enforceable and that all parties involved have clear understanding of the terms of the agreement. Contract law also provides remedies for when either party breaches the agreement. Generally speaking, contract law requires that parties give something of value to each other in return for an agreement, that both parties are competent and able to agree, and that the agreement is freely entered into without any undue influence or coercion.