Contract Law determines when promises are enforceable. The fundamental requirements for forming a binding contract are an offer, acceptance, and consideration. To be enforceable, a contract must be formed by competent parties, who give their consent, to a legal agreement. A party may be excused from performing under a contract by proving a defense to breach of contract. Such defenses include duress, fraud and misrepresentation, mistake, lack of consideration, and the statute of frauds. The Uniform Commercial Code (UCC) and its state law derivatives afford consumer contracts unique protections.