Legally Ranting

The Law of Contracts is not as intuitive as it should be…

Posted in Law School by legalrants on June 9, 2010

I’m taking some time out from studying the Contracts exam tomorrow to rant a little about my dissatisfacton about…well…many things.

Firstly, I can say for sure that I will NEVER ever be a Contracts lawyer (if there is even such a thing) or the equivalent of it. Despite the limited knowledge I have of the Law of Contracts, it certainly appears to me that specialists in such areas are just crafty little nugs out to squeeze every nook and crany of a loophole that is remotely even possible (but this is just my uneducated opinion, so no offence meant to anyone out there who may have a vested interest in the Law of Contracts).

But my real gripe is this: the more I learn about the Law of Contracts, the more I believe that contracts are overrated, and inherently and intrinsically unreliable. There are simply so many ways a contract can be nullified, for example, lack of CONSIDERATION (boy, don’t you love that word!), incompleteness and uncertainty. Sometimes, our good friend, EQUITY, comes into the picture to lend a (destructive) helping hand or two. Of course, there are even more ways to find loopholes — incorporation of pre-contractual statements or the prevention of it (Parole Evidence Rule), implied terms in law/custom/statute and so on.

Seriously, what is the point of having a contract at all?

After griping about the Law of Contracts, I’ll really love to start on my Contracts lecturers, but I’m afraid that there may be an implied term somewhere in the law school offer letter that would prohibit me from doing so…

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