- Construction of contract — Formation of contract — Interpretation of contract — Interests and terminology and transfer of title
This chapter expounds on the standard terms. The notion of ‘standard terms’ has traditionally focused on the intention of using pre-drafted terms for an indefinite number of contracts of a certain nature. The matter also implies how these terms have not been individually negotiated. The main purposes of standard terms have been to facilitate the negotiation and performance of the contract and allocate contractual risks to the benefit of the party introducing the respective standard terms. However, modern contract types do not abide by these traditional rules. The chapter then notes the specific rules and incorporation of standard terms. It mentions the significance of transparency as well.
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