The obligation to contract in British law

Abstract

Nowadays the obligation to contract is rarely looked upon. Without reason though, because it is neither outdated nor inoperable. Based on three common law doctrines the obligation to contract goes back to the Middle Ages. It has not lost its relevance, as it can still be found in modern statutory law, such as in the electricity and mail sector. What is more, it is a fundamental institution with a great impact. The analysis showed that the five chosen forms of obligations to contract bear analogical requirements but very similar rationales and economic consequences. It sets impaired market power right and it overstrikes irrational behaviour of market participants. As overall achievement it aligns the range of property, freedom of contract and freedom of competition.

Legal Theory and Raison D’etre Behind the Use Of Unfair Contract Terms

“…However, the freedom of contract causes several issues, such as inequalities of bargaining power, the use of standard form contracts, and implementation of implied terms as well as consumer protections since in reality, it does not enable the effective practice (Klappstein, 2014).…”