English contract law is the body of law that regulates legally binding agreements in England and Wales. Advice from a US attorney for companies expanding to the US on understanding the differences between US and UK contract law.Here are some tips from a contract lawyer in Las Vegas, NV, on how to draft legally binding contracts in the state of Nevada. While Nevada generally allows construction parties to set the terms of their agreement, there are some laws that regulate specific types of contract provisions. A legal resource guide for Nevada real estate licensees. Set-off is a common law right allowing parties (each of which being both a creditor and a debtor) that have debts owing to each other to set them off. Contract law is law that governs the making of contracts, carrying them out, and the remedies when there's a breach.