Liability in contract and tort
John Murdoch, Will Hughes
Abstract
John Murdoch, Will Hughes
Abstract
Assuming that a contract has been properly made, it becomes necessary to identify precisely what obligations it imposes on the parties – that is to say, what terms it includes. In considering this question, what emerges is that there are three types of contractual term: those express terms which are contained in the main contractual document itself; those (also express terms) contained in other documents to which the main contract document refers; and those terms which are implied by law.
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Assuming that a contract has been properly made, it becomes necessary to identify precisely what obligations it imposes on the parties – that is to say, what terms it includes. In considering this question, what emerges is that there are three types of contractual term: those express terms which are contained in the main contractual document itself; those (also express terms) contained in other documents to which the main contract document refers; and those terms which are implied by law.
Key concepts: Tort, Liability, Business, Law and economics, Actuarial science, Economics, Finance