Economics 3366A/B Quiz: intention to create legal relations
8 Oct 2020
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There is a requirement in contract law that the parties intend to create legal relations. To this end, there are two strong presumptions that can only be rebutted by clear evidence. Parties do not intend to create legal relations in social and domestic agreements, Parties do intend to create legal relations in commercial agreements. The reasons for these presumptions are assumed to be based on public policy. Floodgates: - we don"t want to overload the judicial system with social and domestic disputes. Promoting market transactions: - the presumption of the intention in business transactions ties in with contract laws main function as facilitating agreements between people who otherwise wouldn"t deal with each other. Freedom from instruction in private lives there should be a limit as to how far contract law should intrude into people"s private lives. Performance of an existing obligation not normally consideration stilk v myrick.
