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A brief history of the development of contract law.
Transcript of A brief history of the development of contract law.
How did the Industrial Revolution lead to the development of contract law?
In the 19th Century, the principles of economics which developed alongside the Industrial Revolution was "laissez faire". This lead to the development of contract law, as with the increased exchange of resources, parties to agreements needed assurances that obligations and promises would be honoured.
Therefore Contract law developed significantly during this time period to.... "balance the interests of the developing free market and the protection of the weaker parties to contracts".
What basic contractual principles have developed over time?
Principles of Offer and Acceptance
Legal Intent - Can you remember the case?
Conclusion - Recap questions
Why do we have laws?
When did legal principles and concepts of contract law start to arise?
What time period is this image depicting?
Why are contract enforced?
What are the characteristics of a modern contract?
But this most important and significant era in history was
"The Industrial Revolution".
Olympic Opening Ceremony of the Olympics
- a bite size history of the world-wide industrial revolution.
What is a Contract?
What is the difference between a legal claim in Contract and Tort?
Formal and Informal contracts.
Formal contracts AKA 'speciality contracts' are those which required a authentication, by the practice of sealing.
Informal contracts, AKA 'simple contracts' are those made through word of honour and were commonly where a party had agreed to buy or do something in exchange for something in return.