Beyleveld, Deryck In Gewirthian Perspectives on Human Rights. Bauhn, P. Abingdon, Oxon: Routledge.
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Adams and Brownsword explored this aspect of contract law in a article. Adams and Brownsword identified two basic philosophies, Market-individualism and Consumer-welfarism. This theory encapsulates the principles of freedom of contract and also caveat emptor.
One example of this is in purchasing a house. The seller is not legally obliged to tell the buyer about matters that may materially affect the value of the property e. The other aspect of market-individualism is that contracting parties should be free to make their own bargains without the interference of the court. This idea encapsulates the idea of the sanctity of a contract and also the laissez faire approach of the court.
Consumer-Welfarism This theory is completely different. It makes the fundamentally different assumption that contracts should be regulated. This means in particular, consumer contracts, but it also includes commercial contracts. Important features of this theory are the potential for stronger parties to abuse their position-therefore the law should favour the weaker party.
The majority of contracts formed each day are made orally and are perfectly valid. The law only requires certain contracts to be made in writing. Under S. Therefore an oral guarantee is not enforceable.
Contracts made by Deed Under S. Please note — the use of deeds is not restricted to conveyancing. It can useful for many important transactions. For contracts under deed there is no requirement that both parties provide consideration.
The courts have adopted a variety of different methods, doctrines and rules, all of which are intended to ensure that people can enter into agreements with the certainty that these agreements can and will be enforceable in the courts. Although this approach has been significantly adapted mostly by statute to cater for the modern day consumer, the desire for certainty still lies at the heart of contract law. See further, textbooks:.
Understanding Law by Adams and Brownsword
Chapter 1 'What is law?', in: Understanding law