Section 3.8.10 Assumptions Underlying Contract Law
| Library | Construction Law Practice Manual 3rd Edition 2016 |
§ 3.8.10 Assumptions Underlying Contract Law
Reliance on contract law contemplates fundamental fairness. Yet, equality of bargaining power will rarely exist between the parties and the negotiation of specific remedies, waivers, and limitations will seldom occur, much less be truly negotiated. Nonetheless, contract law has served us long and well. Legal restraints on contractual freedom are readily available to prevent overreaching and impropriety. The defenses of misrepresentation, fraud in the inducement...
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