quot;The law of contract is important in the conveyancing transaction as it regulates not only the relationship between the conveyancer and the...

"The law of contract is important in the conveyancing transaction as it regulates not only the relationship between the conveyancer and the client but also the vendor and the purchaser." Explain, in your words, what this statement means and give examples of the relevance of contract to the two situations described. In your answer you should refer to what you consider to be the main express and implied terms and any legislative requirements that might impact on the form of the contract for the sale of property