Legal aspects of contractual formalities as determined by the parties and by the law

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University of Pretoria

Abstract

A clear reason for the creation and inclusion of the contractual formality requirements in law is to protect the parties when they are concluding a legally binding instrument or contract. They protect the parties against any fraud, deception, hoax or embezzlement that may result from concluding an agreement. Contractual formalities are there to serve as a guide to the parties against any unforeseen circumstances that may lead to litigation. They serve to protect the parties upon concluding a legally binding contract and serve as proof if a dispute of facts arises from the contract. As a general rule, no contractual formalities are required to conclude a legally binding contract, provided all the requirements are met by the parties. Parties are at liberty to choose whether to conclude their contract with adherence to formality requirements or not; it is solely up to them to decide which form the requirements should take when they are concluding a contract.

Description

Mini Dissertation (LLM)--University of Pretoria, 2018.

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UCTD

Sustainable Development Goals

Citation

Mthembu, TH 2018, Legal aspects of contractual formalities as determined by the parties and by the law, LLM Mini Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/69940>