Unit 10- Contract terms and their interpretation

Question 1

What is needed to take into consideration when constructing a contract

Answer 1

How can a person views a contract and in what way it can be viewed

Question 2

What are the two opposing premises in the construction of a contract?

Answer 2

Intention- based on the inner intention of their communications or conduct (SUBJECTIVE)

Expression- focuses on the literal interpretation of the contract’s terms and provisions as they are expressed in the written document. (OBJECTIVE)

Question 3

Constructing a contract in civil vs common law jurisdictions

Answer 3

Civil law: Generally keen to strike a balance between the objective and the subjective test

Common law: generally keen to acknowledge solely an objective test, albeit variously moulded

Question 4

What are the expressed and implied terms of a contract?

Answer 4

Expressed: those explicitly said in the contract

Implied: those not cited and stablished by default rules

Question 5

What are the implied terms in the civil contract

Answer 5

Normally more restrictive than in common law

Parties only discuss those elements of the contract which the deem essential

Question 6

Contract law structure

Answer 6

General part: one body of norms which are applicable to any contract

Special part: additional sets of norms particularly applicable to single and most relevant types of contract