Contracts are a part of our everyday life, arising in collaboration, trust, promise and credit. How are contracts formed? What makes a contract enforceable? What happens when one party breaks a promise? Learn about contracts from Harvard Law Professor Charles Fried, one of the world’s leading authorities on contract law. Contracts are promises that the law will enforce. But when will the law refuse to honor a promise? What happens when one party does not hold to their part of the deal?