Contract law in Bangladesh is primarily governed by the Contract Act 1872, a legislation inherited from the British colonial era. This Act, along with subsequent amendments and judicial interpretations, forms the backbone of contractual relationships in the country's legal and business environment. The Contract Act 1872 defines a contract as an agreement enforceable by law. It lays out the essential elements of a valid contract: offer, acceptance, consideration, capacity to contract, free consent, and lawful object. The Act also covers aspects such as void agreements, contingent contracts, and the performance of contracts. One of the key principles in Bangladeshi contract law is the freedom of contract, allowing parties to enter into agreements on their own terms, provided they do not contravene any law. However, this principle is subject to various statutory and judicial limitations to protect weaker parties and public interest. The concept of 'privity of contract' is recognized in Bangladesh, meaning that only parties to a contract can enforce its terms. However, exceptions have been developed through case law and specific legislation. Breach of contract is a significant area of contract law. The Act provides remedies for breach, including damages, specific performance, and injunction. The quantification of damages follows the principle of putting the aggrieved party in the same position as if the contract had been performed. In recent years, electronic contracts have gained legal recognition in Bangladesh. The Information and Communication Technology Act 2006 provides legal validity to electronic records and digital signatures, facilitating e-commerce and online transactions.