Competition (or antitrust) law is an exciting area of law, working at the confluence of law and economics; its purpose is to protect the process 2 of competition in a free market economy. Competition is ordinarily a beneficial process, because when firms compete for customers, they are encouraged to produce the best quality products (or services) at the minimum price, which is good for consumers (us).

A core objective of competition law is to prohibit firms for engaging in conduct which will distort the competitive process and harm competition by, for example, preventing firms from indulging in anti-competitive agreements, preventing firms with a powerful position on a market from abusing their market power, or dominant position, and preventing firms from lessening competition by merging with their competitors.

Contract law provides a legal framework within which persons can transact business and exchange resources, secure in the knowledge that the law will uphold their agreements and, if necessary, enforce them. The law of contract underpins private enterprise in South Africa and regulates it in the interest of fair dealing.