What does 'reliance on the contract' mean?

'Reliance on the contract' refers to the expectation that all parties involved in a contractual agreement will act according to the terms outlined in the contract. It signifies that parties depend on the contract's provisions to govern their relationship and fulfill their obligations. This reliance can affect how disputes are resolved and may impact claims for breach of contract if one party fails to uphold their end of the agreement. Ultimately, it underscores the importance of contracts in providing legal certainty and predictability in transactions.