Contracts 2 is a core compulsory course. This reflects the fact that a good grounding in the basic principles of the law of contract is a fundamental element in any legal education. Like tort law, contract law is one aspect of the law of obligations. Contract law is the study of legal obligations voluntarily assumed. Contract principles govern many important areas of daily life and are the foundation of many other branches of law. A sound understanding of the principles of contract law is essential to any law student as so many other subjects are built on that foundation. In legal practice, the principles of contract law underpin many important areas of practice. Contracts 2 is essentially a continuation of Contracts 1.