CONTRACT LAW

Law Endeavour to Ensure Fairness in the Making and Contents of Contracts

Law Endeavour to Ensure Fairness in the Making and Contents of Contracts

The contract is a set of rules and regulations that direct the content, validity and relationship of an agreement that involves two or more than two persons - individuals, companies or institutions- regarding the provision of different services, exchange of interests, ownership or sales of goods.

Drakers is a large engineering company that continually deals with people and enter into relationships that are regarded as contracts in law.

In order to ensure fairness, which is vital in avoidintg misuse of rights and balancing the interest two parties, is regarded as one of essential and basic functions of law of contract and plays an exceptional part in the performing the transactions.

Fairness in contract:

THE reality that any legal system must represent fairness can hardly be denied. The dictionary of Oxford Advanced Learner's gives the definition of “fairness” as 'appropriate and acceptable in certain circumstances” but then meets the criteria this on the base of it being subjected to the law and rules. In the region of contract law, in which two or more individuals are involved and come into in a deal, the condition is different.

Law endeavourance to ensure fairness in contracts and contents

When fairness is considered in the perspective of contract, it is not right to say that the law of contract is ignorant to the matter of fairness. It needs looking into whether fairness was looked over while the contract development phase. The other facet is whether the result should be fair. Lastly, fairness can be brought about by detailed regulations. Hence, it is too simplistic to talk about contract fairness gin general. There are two ways in which fairness of contract can be defined in such way that the parties involved will follow the rules of what they have agreed upon or they intend to agree on terms that have been set under normal conditions and circumstances. Secondly, the terms can be viewed in various perspectives which concern the consideration that has been exchanged by the parties involved in the contract.

In contract development phase, the factor of fairness is imported not directly but through fulfillment with specific necessities.

Iin order to form a contract under the common law mirror image rule, an acceptance of an offer must be unconditional, identical, and absolute with the conditions of the offer made. If the offer is accepted conditionally or a new term is introduced into the contract, this amounts to a rejection of the offer and serves as a counter offer which must be accepted before a contract can result.

How is the law governing - making a contract and the contencts of the contract

Following main elements are ensured in order to make a legal contract:

1. OFFER

2. ACCEPTANCE

3. CONSIDERATION

4. INTENTION

5. CAPACITY

6. PURPOSE/ LEGALITY

7. REALITY OF CONSENT

Contents of a contract:

Before signing the contract, it is important and appropriate to review what is included in the ...