THE IMPACT OF ECONOMIC CONSIDERATIONS ON CONTRACTING WITH COMPANIES UNDER THE ENGLISH LAW

  • Nooraini Dyah Rahmawati
Keywords: company, contract, consideration, economy, private law, international private law, english law, agreement, adverse risk

Abstract

Companies as the major contractual in the world as well as the biggest economical instrument, in which interconnected with one another by law and economy play an important role through their business activities in categorizing the core meaning and implementation of a contract and the evolution of its rules throughout centuries. This article offers a structural analysis and descriptive explanation on contract and consideration as well as the impact of economic consideration has on companies contractual relations by analysing some experts point of views, relevant cases, as well as practices under the English law through normative juridical with descriptive-analytical research specifications method. The gravity of the importance for companies in knowing how economical aspect is deemed crucial in formulating a business contract and how important its course for contract law in general, as it shows throughout time not only as part of companies preventive measure to avoid risks, but also an evolving mechanism within private law in general.

References

Cases

Ashbury Railway Carriage and Iron Co v Riche (1875) LR 7 HL 653

Bratton Seymour Service Co v Oxborough (1992) BCC 471 (CA)

Chappell & Co Ltd v Nestle Co Ltd (1959) AC 87

Currie v Misa (1875) LR 10 Ex 153

Dunlop Pneumatic Tyre Co Ltd v Solfridge & Co Ltd (1915) AC 847

Eastwoon v Kenyon (1840) 11 Ad&E 438

Lampleigh v Brathwait (1615) 80 ER 255

Meridian Global Funds Management Asia Ltd v Securities Commission (1995) 2 AC 500

Roscorla v Thomas (1842) 3 QB 234

Thomas v Thomas (1842) 2 QB 851

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American Restatement of Contracts (Second)

United Kingdom Companies Act (1985) Section 14 (1)

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Published
2021-09-15
How to Cite
RahmawatiN. (2021). THE IMPACT OF ECONOMIC CONSIDERATIONS ON CONTRACTING WITH COMPANIES UNDER THE ENGLISH LAW. Fortiori Law Journal, 1(02), 86-108. Retrieved from https://jurnal.ucy.ac.id/index.php/flj/article/view/931