Rules and Theory (OCR A-Level Law): Flashcards

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Theory of the Law of Contract
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Economic theory influencing 19th century contract law

Laissez-faire economics (minimal government intervention)

Voluntariness principle in contract law

Contracts entered freely without coercion or undue pressure

Freedom to contract principle

Liberty to decide whether to enter agreement and on what terms

Purpose of formalised rules in contract law

Legal framework making voluntary arrangements enforceable

Three fundamental bases of contract law

Voluntariness, freedom to contract, formalised rules

Examples of everyday contracts

Using public transport, purchasing food/drinks from shops

Two sources of consumer protection development

Judicial development (common law) & Parliamentary legislation

EU's role in UK consumer protection

Added layer of protection during UK's EU membership

Post-Brexit consumer protection status

Remain in force, EU-derived rights incorporated into UK law

When contract law becomes practically important

When everyday agreements fail to deliver what was expected

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