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Summary Introduction to Contract Law
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Considers theories in contract law, the basics and relevant case law.
[Meer zien]Voorbeeld 1 van de 3 pagina's
Voorbeeld 1 van de 3 pagina's
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Voorbeeld van de inhoud
Law of obligations:Contract Law:
Chapter 1 notes:
1.1 Introduction:
- There is controversy behind the simplicity of everyday transactions/contracts.
1.2 The scope of the law of contract:
- Different types of contract; some involving large sums of money, some few, some for a long
duration, others for a shorter period of time.
- ‘General principles’ of the law of contract are derived from common law
- Prof Atiyah challenges ‘general principles’, stating that they remain general by default.
- Atiyah identifies the classical model of contract as being two-party, commercial and based
on an executory (unperformed) exchange.
- Some contracts are not discrete but continuing e.g. landlord and tenant, some are
multiparty and some aren’t commercial but domestic (marriage).
- Atiyah states that contract law is ‘gradually merging with tort law and law of obligations’.
- There is a fragmentation of ‘legal regulation of contracts’ in England.
- Crucial q: ‘do we have a law of contract or a law of contracts?’; McKendrick: general
principles as declining in importance and so we are moving towards a law of contracts.
- General principles of ‘formation, content, misrepresentation, mistake, illegality, capacity,
duress and discharge apply to all contracts, subject to statutory qualification’.
1.3 The basis of the law of contract:
- Atiyah; the basic law of contract theory ‘is a mess’.
- Classical theory of the basis of contract law: will theory. States that there are contractual
obligations to the will of the parties.
- Law of contract= a ‘set of power-conferring rules which enable individuals to enter into
agreements of their own choice on their own terms.’
- Freedom (individuals should be free to enter and make contracts based on their own terms
without the intervention of the courts or parliament) and sanctity (the agreement to be
upheld and respected by the courts) of contract.
- Impossible to ‘attribute many of the doctrines of contract law to the will of the parties’.
- Fried= ‘the law of contract is based upon the “promise-principle”’. However, duress cannot
be explained via this principle, other non-promissory principles must be considered (e.g. ‘the
consideration of fairness’).
- Fried= contract respects an individual’s autonomy.
- Challenges to Fried’s theory:
1. Modern contractual doctrines cannot be explained via liberal individualism.
Powerful contracting parties can enforce contracts onto consumers. ‘The response
of parliament has been to place greater limits upon the exercise of contractual
power.’ Legislation has been put in place to regulate employee and consumer
contracts; aiming to protect these weaker parties.
2. Courts often don’t order the promisor to carry out his promise. The promisee
‘must generally content himself with an action for damages’. The expectations
placed on a promise are not fully protected in damages. If an equivalent profit can
be achieved elsewhere with no extra loss to you, then your expectation has been
fulfilled and the person who had initially broken the promise is no longer at fault;
you have no contractual claim over that person (assuming that you have suffered no
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