Essay about The Origin Of The Australian Contract Law
A view which is certainly elementary if not fundamental is that in a democratic society, people should enjoy freedom in their contracting.
Our society today depends upon free exchange of goods and services in the marketplace at every opportunity. The interactions we encounter in the market depends on voluntary agreements between the parties, which can never become binding without a legal contract.
Because contracts are at the heart of a democratic free-market economy, it is unsurprising that contractual freedom has taken a vital role in defining the term of contract law.
The origin of the Australian contract law can be traced back to the development of the English common law and was brought and introduced to Australia when the English arrived, with specific statutory modifications in some areas.
Notion of Freedom of Contract
The relevant words of Sir George Jessel MR:
“If there is one thing which more than another public policy requires it is that men of full and competent understanding shall have the utmost liberty of contracting, and that their contracts when entered into freely and voluntarily shall be held sacred and shall be enforced by Courts of Justice. Therefore, you have this paramount public policy to consider that you are not lightly to interfere with this freedom of contract.”
The idea of contract can be traced back to classical Greece and Rome and later developed by the Pandectists, a group of legal scholars who studied and…