Part I The General Part, 1 Principles and Policies

Subject(s):

Breach of contract — Damages and contract — Formation of contract — Remedies for breach of contract

This chapter provides an outline of the principles and policies of construction. It also summarises the main topics to be discussed in this volume; such as the evolution of the principles of construction, interpretation, leading decisions, and so on. Ascertaining the meaning and effect of the language of contracts and other documents, the chapter shows, constitutes a central concern of private law and is of great significance to commercial and financial transactions. Construction generally involves identifying in a document a rule for future cooperative behaviour from the language of the instrument, and then applying that rule to subsequent facts or situations. As such, issues concerning construction represent an unavoidable source of potential dispute.