It conjures up images of teams of lawyers clad in long dark robes bent over a steaming caldron muttering phases in Latin. Res ipsa loquiter. Toss out the warranty of merchantability. Add a limitation of liability. Let me put in a good word for contracts.
Contracts are private agreements, voluntarily entered into by companies and individuals.
These voluntary private agreements are legally enforceable. Imagine the chaos of a system without contracts and rules. Enforceable contracts are one of the bedrocks of our economy. Contracts are one of the three fundamental reasons why our system of commerce flourishes. And contracts are nothing new.