By Paul Richards
ISBN-10: 1405899166
ISBN-13: 9781405899161
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Extra info for Law of contract
Example text
With this development the common law and Parliament imposed conditions on the parties to contracts, particularly sellers of goods, to comply with certain basic standards. Such legislation generally protected the individual against the vagaries of the commercial enterprise, though more limited protection was also imposed on contracts made between commercial enterprises. In contracts between private individuals the idea of freedom of contract encapsulated in the maxim caveat emptor (let the buyer beware) still persisted – as it does today.
L ‘Classical theory’ of contract and the development of interventionism as the notion of freedom of contract began to break down in the face of large-scale commercialism. l Modern era – protectionism and the decline in the freedom of contract caused by the fettering of negotiating discretion. The new protectionism evolved in three ways: social protectionism, consumer protection, contracts of adhesion/standard-form contracts. l Present day – rebirth of freedom of contract by the stripping away of state protectionism and the drive for a new competitive order.
Freedom of contract in the classical theory could be seen as being at the centre of the exploitation of the most vulnerable members of society. It was to curtail these excesses that Parliament and the law were called in, and this they did, imposing planning controls, prohibiting certain types of contract and imposing terms into contracts. So far we have seen how protectionism began but this process also continued right through the twentieth century. qxd 3/16/09 10:51 AM Page 7 EVOLUTION redundant and a whole battery of legislation to protect tenants from the excesses of their landlords.
Law of contract by Paul Richards
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