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Words: | Submitted: Wed May 10 2006
... system itself, involves a balance between competing sets of values. Freedom of contract emphasises the need for stability, certainty, and predictability, but, important as these values are, they are not absolute, and there comes a point where those most vulnerable need protection. The law began to recognise that not all parties have equal bargaining power as was previously thought. One particular group that were particularly affected were consumers. For this reason, new regulations such as the afore mentioned examples were implemented. I think this has been of benefit to the law of the United Kingdom. Not only does it ensure social justice, it redresses equality of bargaining power. This is particularly of benefit to those disadvantaged from the start. Notion of freedom of contract is not always an ideal one. In Suisse Atlantique Societe d'Armement Maritime S.A. v N.V Rotterdamsche Kolen Centrale [1967] 1 AC 361. Lord Reid said, at p. 406: ...
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