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To what extent, if any, can the courts ensure the fairness of contracts by inserting implied terms?
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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To what extent, if any, can the courts ensure the fairness of contracts by inserting implied terms? Fairness of contracts can be defined in two ways. Firstly, fairness can be defined in a way such that both parties follow strictly on what they have agreed or intended to agree in the contract terms provided that the terms are set under normal circumstances. Secondly, it can be looked at in a different perspective concerning the consideration exchanged by both parties in a contract. I.e. is it fair for a person to buy a house for only ten pounds? Contract law mainly focuses on the first kind of fairness. One example, which supports this kind of fairness but not the other, is the doctrine of consideration which states that consideration must be sufficient but it need not be adequate. Although it is commonly said that the courts are not in the business of...
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