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Almost every aspect of our lives is governed by some kind of contract. Imagine if there was no guarantee that the house you move into today would still belong to you in a week. Or if you went to work every day only to discover that your company decided not to pay you. When you write a check, you have a contract with your bank which says that you have the money to cover the check and will honor it. When you go to the dry cleaners, you have a contract which says that they will return your clothes clean and in one piece. Contracts give us piece of mind.
Because our lives are so entrenched in contractual matters, it is important to understand exactly what actions or inactions constitute a contract and how to get out of a bad one.