Practical concepts in Contract Law

Ehsan, zarrokh (2008): Practical concepts in Contract Law.

Abstract

A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. Contract law is based on the Latin phrase pacta sunt servanda (literally, promises must be kept) [1]. Breach of a contract is recognised by the law and remedies can be provided. Almost everyone makes contracts everyday. Sometimes written contracts are required, e.g., when buying a house [2]. However the vast majority of contracts can be and are made orally, like buying a law text book, or a coffee at a shop. Contract law can be classified, as is habitual in civil law systems, as part of a general law of obligations (along with tort, unjust enrichment or restitution).

• Item Type: MPRA Paper
• Language: English
• Keywords: contract, important concepts, legal analyse, comparative
• Subjects: K - Law and Economics > K1 - Basic Areas of Law > K12 - Contract Law

References

1. Hans Wehberg, Pacta Sunt Servanda, The American Journal of International Law, Vol. 53, No. 4 (Oct., 1959), p.775; access here at JSTOR

2. Lord Steyn, Contract Law: Fulfilling the Reasonable Expectations of Honest Men (1997) 113 LQR 433; c.f. § 133 BGB in Germany, where "the actual will of the contracting party, not the literal sense of words, is to be determined"

3. P.S. Atiyah, 'Consideration: A Restatement' in Essays on Contract (1986) p.195, Oxford University Press

4. Central London Property Trust Ltd. v. High Trees House Ltd. [1947] KB 130

5. Balmain New Ferry Company Ltd v. Robertson (1906) 4 CLR 379

6. Codelfa Construction Pty Ltd v. State Rail Authority of New South Wales (1982) 149 CLR 337

7. Con-stan Industries of Australia Pty Ltd v. Norwich Winterthur Insurance (Australia) Ltd (1986) 160 CLR 226

8. Frigaliment Importing Co., Ltd., v. B.N.S. International Sales Corp., 190 F. Supp. 116 (S.D.N.Y. 1960) (plaintiff failed to prove what he meant by "chicken") and U.C.C. § 1-205.

9. Ewan McKendrick, Contract Law - Text, Cases and Materials (2005) Oxford University Press ISBN 0-19-927480-0

10. P.S. Atiyah, The Rise and Fall of Freedom of Contract (1979) Clarendon Press ISBN 0198253427

11. Randy E. Barnett, Contracts (2003) Aspen Publishers ISBN 0-7355-6535-2

12. zarrokh- ehsan, offer and acceptance in iranian law, kermanshah bar association legal journal, No. 14-15, winter 2006.

13. Alipanah- parviz, selling in iranian civil code, kermanshah bar association legal journal, No. 12-13, fall 2006.