It took a long time, but there is now a good standard of protection Essay

It took a long time, but there is now a good standard of protection against unfair standard contract terms imposed by one par - Essay Example In the past, one party to a contract could violate the contract by exploiting the loopholes in the English Law. But today, legal safeguards are in place to stem such practices (Gretchen 2000, p.67). UK has various statutes stating that when one of the parties to a contract disobeys the contract, the other is at liberty to seek legal redress. Contract law encompasses issues as whether a validly executed contract is in place, what it entails, whether the actions of a party amounts to contract violation, and the level of compensation that a victim of contract violation is entitled to. Historical development Standard clauses were in a contract conceived out of the need for discipline among parties in business practices; however, it was insignificant in pre-commercial practices (Howells, and Weatherill, 2005p.p.101). In ancient times, the largely primitive societies employed other methods of implementing the dedication of parties to an agreement. Before the advent of contract law, deals a nd promises between individuals were done through familial connections or under religious organizations. In the ancient system premised upon barter, transactions were self-enforcing since transactions would be deemed complete by both parties at once. In contrast, Blythe (2005, p.77) argued that many parties is such transactions would notice problems with the commodities after the transaction was complete, but these historical challenges have been usually arbitrated through property law. The lack of fair standard terms in contact law would complicate the issue, since clear rules guiding the promise such as the conduct of both parties was lacking. In the ancient English law, the then primitive society continued to employ notions of issues to do with property instead of a pledge (Gretchen 2000, p.67). In the society’s ancient forms of transactions involving informal contracts, familial connections helped in securing the credit in as much the same way as when a community or an et hnic group provided hostages for the period within which the debt was to be settled. Other types of security included promising a property such as land or giving away individuals as pawns (Bar 2004, p.54). Some credit options were basically commonly accepted across board: livestock, for example, would be assigned to a concierge whose services were paid with a fixed proportion of the animal’s young ones. The problems arising from the quantification of values of assets impacted the enforceability of the largely casual agreements, especially following the expansion of business transactions beyond familial connections in the second half of the twentieth century. These business activities eventually led the development of solid, enforceable, binding laws of contracts in the modern United Kingdom (Heidemann 2007, p.35). Modern statutes put in place enforceable promises, which basically went hand in hand with the expansion of the country’s market economy. In contrast though, cases of violations of standard terms of contract even after the enactment of the first major contract law in 1977 persisted. The Unfair Contract Terms Act 1977, which basically aimed to streamline the behaviour of parties in a contract were still rampant in the United Kingdom (Forte 1999, p.121). Legal safeguards The English law of contract has sections dealing with unfair standard terms