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Interpreting contracts in English law is an area of English contract law, which concerns how the courts decide what an agreement means. It is settled law that the process is based on the objective view of a reasonable person , given the context in which the contracting parties made their agreement.
As Innes J put it in Joubert v Enslin, [3] "The golden rule applicable to the interpretation of all contracts is to ascertain and to follow the intention of the parties." [ 4 ] There is a paradox, however, in that the subjective intentions of the parties must be established with reference to certain objective factors, [ 5 ] the most obvious ...
Investors Compensation Scheme Ltd. v West Bromwich Building Society [1997] UKHL 28 is a frequently-cited English contract law case which laid down that a contextual approach must be taken to the interpretation of contracts. Lord Hoffmann set out five principles, so that contract should be construed according to:
[5] The Constitution of South Africa, which has the force of supreme law, [5] and as such sets the standards and requirements for the construction and construal of statutes, also provides a definition of statute law, distinguishing between national and provincial legislation: National legislation:
Rainy Sky SA and others v Kookmin Bank [1] is an English contract law case concerning interpretation of contracts.The Supreme Court confirmed the principle laid down in Wickman v Schuler that, if the words of a contract have ambiguous meanings, the court will interpret it in a manner that most accords with "business common sense".
This may reduce the chance that the other party will misunderstand the contract; it also may facilitate judicial interpretation of the contract." [5] Uri Weiss claimed: "The Contra Proferentem rule motivates the less risk-averse drafter to refrain from manipulating the other side by making the contract unclear. Thus, the two parties can agree ...
Smith v Hughes (1871) on unilateral mistake and the objective approach to interpretation of contracts; Foakes v Beer [1] (1884) on part payments of debt (with a notable dissenting opinion by Lord Blackburn) The Hong Kong Fir (1961) on innominate terms, allowing the court remedial flexibility
The title-transfer theory of contract (TTToC) is a legal interpretation of contracts developed by economist Murray Rothbard and jurist Williamson Evers.The theory interprets all contractual obligations in terms of property rights, [1] [2] viewing a contract as a bundle of title transfers.