Theory-Nature and Effectiveness of Remedies

Question 1

Problem with the way in which remedies are calculated.

Answer 1

Distinction between legal, equitable and legislative remedies are not easy for the general public to understand.

Question 2

3 reasons CRA 2015 is an improvement in terms of remedies.

Answer 2

1. Follows good business practice and can provide 2nd chances to businesses to fulfill their side of the contract.
2. Includes a “fairness” test
3. Includes a “grey list” of potentially unfair terms in consumer contracts.

Question 3

Example of acting in good faith in contract law.

Answer 3

Where a contract term is breached, the party in the wrong needs to pay for damages they may have foreseen.

Question 4

Why is acting in good faith not always going to happen?

Answer 4

Contracts are made in a competitive Capitalist environment and those involved are always trying to get the best deal for themselves.

Question 5

Problem with acting in good faith v freedom of contract.

Answer 5

Can create uncertainty in the law with parties unsure what is and is not acceptable behaviour.

Question 6

Is acting in good faith implicit in English law?

Answer 6

Yes-should be key part of forming contracts.