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This second edition of the text first published in 2002 has been spruced up to not only update the material, but also to reappraise the various topics. There has been a flood of case law since the first publication and the authors have taken this on board wherever deemed relevant. Further, in view of the increasing importance of the law relating to sale of goods, a new comprehensive chapter has been added to the text. As in the first edition, the text contains topics that are essential equipment in the arsenal of every student in business studies. Based on the premise that the contract is fundamental to all business transactions, about half of this book is dedicated to the basics of the law of contract, with the remainder on selected Business Law topics. Presenting an in-depth exposition of the topics in prose that is clear, concise and easily readable, this is a refreshing change from other legal texts which adopt the 'bare bones' notational approach or detailed technical explanation of legal principles. Summaries of relevant cases from Hong Kong and other jurisdictions are included in furtherance of this objective.