Hong Kong has been institutionally separated from the United Kingdom for less than two decades. As recently as 25 years ago, it would have been difficult to perceive any appreciable emergence of a distinctly local Hong Kong common law. There were, however, some relatively early signs that the Crown Colony's common law was adapting to Hong Kong conditions to better serve the local community. Professor Betty M Ho skilfully identified many of these earlier developments. Since the publication of the second edition of this book almost 20 years ago, there has been an acceleration in the pace at which the common law in Hong Kong has developed distinctly local characteristics. The law of contract is no exception in this regard. The approaching end of British sovereignty had much to do with this development during the earlier part of the 1990s. Since the foundation of the Hong Kong SAR, a principal impetus has been the work of the new Court of Final Appeal which was established to replace the Privy Council as the highest court for the territory. The localisation of Hong Kong's highest court has contributed, and will almost certainly continue to contribute, significantly to the emergence of a Hong Kong common law. This overdue third edition of Professor Ho's work on contract law builds on her legacy and makes a contribution to the further emergence of a Hong Kong common law of contract. For the legal practitioner, this book will serve as a reference tool, and for the student commencing legal studies it will provide a general introduction to the basic principles of Hong Kong contract law and serve as a basis for more advanced studies.