Interpretation

Overview

Interpretation Notionally, the interpretation of a contract involves the ascertainment of the parties’ intentions. However, the party’s private subjective intentions are irrelevant. The Courts interpret the terms of the agreement as they objectively manifest themselves. They interpret the agreement in light of the circumstances and what the parties have said and done.… Read the rest

Modern Approach

Traditional Approach to Interpretation Traditionally, all contracts were interpreted in the same manner. Commercial and consumer contracts were subject to the same broad principles. The traditional approach emphasises the plain meaning. In the absence of ambiguity or something pointing to the contrary, effect is to be given to the plain meaning.… Read the rest

Limiting Liability

Overview of Terms Limiting and Excusing Liability One party, usually, the stronger party may insert an exclusion or limitation of liability clause, typically in a standard form contract.An exemption clause is one that seeks to exclude or limit the liability of a party for breach of contract or failure of performance (invariably that of the trader who proffers it).… Read the rest

Gambling

Gaming Gaming and wagering contracts are generally void. The legislation provides that a contract to recover money or winnings is unenforceable. No legal action lies to recover money alleged to be won or paid upon a wager or which has been deposited as security for it.… Read the rest

Classification

Classification of terms The obligations in a contract may vary in importance. Some clauses / terms are regarded as more fundamental or important than others. Contract law distinguishes between terms that are essential to the agreement and those that are less fundamental.… Read the rest

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