Contract law is primarily a common law subject that is its rules and principles have been formulated and laid down by judges in their judgements in actual cases - this is known as case law. (You will need to be able to cite case law accurately, therefore get into the habit now of learning the legal principle with its supporting case).
However, some rules of contract law are found in statute. Statute means acts of Parliament, or regulations made under the authority of acts of Parliament. Some statutes affecting contract law have mainly codified previous rules of case law, e.g the Sale of Goods Act 1979 but others have not simply reproduced and codified previous case law but also altered it e.g. Misrepresentation Act 1967 or the Unfair Contract Terms Act 1977. ( Remember that some legislative procisions will have been interpreted by the courts and you will need to be able to cite the cases to support your analysis of the statutory section).
The United Kingdom has been a member of the European Union since 1973. European Union law has been applicable in the UK since then and therefore can be cited as a third source of contract law. The influence of EU law in contract law has become increasingly significant. An example, that we will come across later in the course, of contract law deriving from EU law, are the Unfair Terms in Consumer Contract Regulations 1999 and in the next couple of weeks the Consumer Protection (Distance Selling) Regulations 2000. (You must be able to use these legislative provisions accurately)
When answering seminar questions or doing assessments you will always gain credit for supporting your legal analysis with the appropriate authority, Try to remember for each point you make - identify the legal principle involved, support that analysis with appropriate case law, legislative provision or academic opinion, and apply it back to the question- ISA (identify, support and apply)