Discuss the development of Implied Terms in English Contract Law and Essay

Discuss the development of Implied Terms in English Contract Law and how this is reflected in the current Sales of Goods - Essay Example For any contract under the English law, an offer must be made of terms which are accepted by the other party. Usually an offer can be an oral or a written statement. The contract is complete only if it is accepted by all the parties concerned. The duration till which a contract can be withdrawn is until the time of its acceptance, but as soon as the contract is established it becomes a binding obligation. Most contracts are subject to the doctrine of consideration and are enforceable only if something is given in return of a promise to perform. Only the parties related to the contract can enforce the contract. If a contract is made on behalf of another party, that does not have any good consideration, that party cannot enforce it. If all the parties concerned with a contract make the same mistake in relation to it, then they will never have reached the agreement they intended. If an event occurs which destroys the contract this too will render the contract void. An agreement is a contract that contains the three basic elements of intention to create legal relations, offer and acceptance, and consideration. There arises a need for unification of law in Europe. Any businessman trading in Europe knows that some of his contracts with foreign parties will be governed by foreign laws. The unknown laws of the foreign countries add to such risks. But one who trades with a few countries only, or is about to make a big deal, will sometimes try to obtain information on the foreign contract law or law that come into question. Such a person will often realize that the foreign laws are difficult to understand for him and his lawyer. Many businessmen hope that no dispute with their foreign partners will arise and that it will then be settled amicably. Most disputes are in fact settled amicably. But in the negotiations leading to a settlement the applicable foreign law will often be a factor of importance and it could be disastrous to be ignorant of them. Fear of the unknown law and incomprehension keep many potential exporters and importers away from the European market. The existences of varieties of laws hamper the mobility of the European businessman. It is a non-tariff barrier to the trade. It is the aim of the European Union to abolish the legal restrictions of the intra-union trade. It follows from this objective that differences of law which restrict this trade should be abolished. The highly intensive and increasing international trade creates a need for legal unifications, paving way to CISG in the year 1980. CISG has been adopted by most countries with important international trade. In the countries of the European Union where the trade has increased many times since the Common Market was established, unification of the contract law will become more urgent the more the trade grows. In case the contract has been induced by some kind of misrepresentation, the party who was misled may withdraw from the contract and thus treat the contract as invalid. Action must be invoked immediately after the misrepresentation is discovered. Suppose the misrepresentation was made innocently it must be proved that it was unreasonable for the party making it before the contract becomes invalid or void. The breach of contract is unlawful and is punishable. The remedy for the breach of contr