contract theory rex adhar Flashcards
Certainty is important because it promotes
personal autonomy - people want to know where they stand, be able to plan and have control over their future.
people should know when entering into a contract..
to what extend they are legally bound - RULE OF LAW
Never say never approach is dangerous because
produced unpredictability - courts try and be fair by leaving open exception for particular cases but this is counterproductive because people would rather know where they stand.
Paper Reclaim confirmed that
punitive damages are not available in NZ but purposely refrained from saying never.
QUOTE Humans are planning creatures….
they look to the future. Contracts provide a means whereby people can gain a measure of discretion over the future”.
Recognizes than a plea for absolute certainty is not realistic because
the law is inherently uncertain - no one seriously insists upon perfect legal certainty or predictability - rather a high degree of predictability.
WHAT DID rex say about Belize
Before the Belize case, the law on implied terms was clear. The decision shifted from the traditional twin test to focusing on interpreting express terms in context, blurring interpretation and implication, and lowering the standard from necessity to reasonableness for implying terms.
