Contract Law in Malaysia: 5 Reasons Why You Should Land This Career

In Malaysia and elsewhere, contract law is at the heart of many legal specialisations and businesses. It plays a vital role in ensuring companies, employers, employees, and services conduct business fairly. You mostly might not be aware of it, but we enter into contracts throughout our lives. Agreeing to the terms and conditions on a mobile application? Taking a receipt after eating at a restaurant or purchasing something at a store? Both of these, and in fact more, involve contracts and the law.

Writing contracts can be a very lucrative career path for aspiring lawyers and legal professionals. As the global health pandemic continues, there is a growing demand for consulting services as agreements and obligations of most businesses are up for reworking. There is always a need for protection or security in doing business. It is an interesting field for someone who enjoys solving problems, has a keen eye for detail, and a passion for written communication. But how do you get into practising contract law?

Let us break down the basics of contract law and how you can make a career out of it.

What is Contract Law?

Contract law is the body of law that specialises in making agreements enforced or recognised by law. These agreements or obligations are carried out through a contract. Contracts allow people to conduct activities confidently and smoothly, avoiding misunderstanding and neglect.

Who practices Contract Law?

Going to law school and becoming a lawyer is a big part of contract law. Like in medicine, where doctors have specialisations, lawyers can also choose which field they can specialise in, such as family law and criminal law. Contract law encompasses all practice areas of law as contracts serve as a foundation of legal practice, so most lawyers handle contracts as part of a diverse practice.

But you don't necessarily need a law degree to have a career in the field of contract law. If you have a degree in Legal Management or Political Science, you can work as a paralegal, legal assistant, or other legal-related professions.

What are the duties and responsibilities within Contract Law practice?

One might think that contract law is a desk job that entails a mountain of paperwork. Contract lawyers usually work on cases from the beginning to the end. The job requires a lot of fieldwork too. From meeting with clients, drafting, reviewing, and enforcing contracts to filing cases, negotiating settlements, and even participating in a trial. It's never a dull day to ensure your clients' best interests are protected as much as possible.

Why enter the field of Contract Law?

• Ability to help others

Contract law professionals are uniquely positioned to affect societal change by helping individuals and organisations with their legal problems and furthering the public good by providing legal expertise in avoiding and resolving conflicts.

• Career Opportunities

The complexities of legal systems have created hundreds of legal career options. Contract law jobs are among the most secure jobs in the legal industry because there will always be a need for a contract in every business dealing.

• Mastering transferable skills

You can develop your transferable skills in practising contract law like people skills in servicing different clients and communication skills. Remember: A contract not only serves as a written agreement between two parties but also as a collaborative communication tool.

• Intellectual stimulation

Navigating the evolving legal system and the legal profession's demands creates a stimulating intellectual environment for legal professionals. Contract lawyers alone grapple with challenging issues, reason with logic and analyse legal cases to provide innovative solutions to their clients.

• Earning potential

Being in the legal profession is a highly reputable career. It's not an easy job, but it is a solid career choice as every business requires contracts. You can make really good money in closing contracts for big corporations or mitigating settlements.

Practising law is to uphold justice, a noble profession and a rewarding career to be in. Legal professionals can play many important roles in various professions, such as contracts. It provides businesses and individuals with peace of mind and serves as a safety net for people to understand and navigate conflicts to conduct businesses.

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