Principles Flashcards
1
Q
freedom of contract theory
A
the idea that people are free to enter contracts and cannot be forced to enter an agreement
2
Q
sanctity of contract theory
A
mutual promises mean both parties have an obligation that should be carried out, if it is not the courts can remedy the situation
3
Q
fairness and clarity theory
A
terms should be clear so that parties are able to follow them, unfair terms are not allowed
4
Q
good faith theory
A
for contracts to actually work, there is an assumption that both parties will do what they say they will do
5
Q
equity theory
A
key principle that underpin the law, they relate to fairness from both parties, a famous equitable maxim ‘come to equity with clean hands’. this men’s balancing interests of contract law with justice
