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The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law. The law governing transactions involving the sale of goods has become highly standardized nationwide through widespread adoption of the Uniform Commercial Code .
However, a court will attempt to give effect to commercial contracts where possible, by construing a reasonable construction of the contract (Hillas and Co Ltd v Arcos Ltd [10]). Courts may also look to external standards, which are either mentioned explicitly in the contract [ 11 ] or implied by common practice in a certain field. [ 12 ]
Sale of Goods Act 1979, ss 12–15 and s 55 "may (subject to the Unfair Contract Terms Act 1977) be negatived or varied by express agreement or by the course of dealing between the parties, or by such usage as binds both parties to the contract." Unfair Contract Terms Act 1977 s 6 makes s 12 non-excludable and ss 13–15 non-excludable in ...
Reasonableness and responsibility: a theory of contract law. Law and philosophy library. Dordrecht: Springer. ISBN 978-94-007-4604-6. Vadi, Valentina (2018). Proportionality, reasonableness and standards of review in international investment law and arbitration. Elgar international investment law.
The promise must be real and unconditional. This doctrine rarely invalidates contracts; it is a fundamental doctrine in contract law that courts should try to enforce contracts whenever possible. Accordingly, courts will often read implied-in-fact or implied-in-law terms into the contract, placing duties on the promisor.
Meeting of the minds (also referred to as mutual agreement, mutual assent, or consensus ad idem) is a phrase in contract law used to describe the intentions of the parties forming the contract. In particular, it refers to the situation where there is a common understanding in the formation of the contract.
[21] [22] In a case where it is apparent that the parties have not attempted to spell out the full terms of their contract, the court should imply a term by reference to the imputed intentions of the parties if, but only if, it can be seen that the implication of the particular term is necessary for the reasonable or effective operation of a ...
The Act also states that a reasonable time (section 14(2)) and a reasonable charge (section 15(2)) are "questions of fact", but it does not explain how the "fact of reasonableness" is to be determined. However, the Unfair Contract Terms Act 1977 and its concomitant case law provided a number of guidelines.