... give rise to fiduciary duties: insurance contracts are held to be 'uberrimae fidei' ('of the utmost good faith') and will be voidable without full disclosure (Lambert v Co-operative Insurance Society). The law also takes an economic perspective in requiring full disclosure of contract terms, the rationale being to encourage parties to compare and negotiate terms and so formulate efficient contracts. In Interfoto v Stiletto, one of the parties failed to point out a particularly onerous term in a hire contract. Lord Bingham found that the English rules yielded "a result not very different from the civil law principle of good faith"2, and refused to enforce the term. Statutory controls3 also go some way to requiring disclosure of contract terms, especially in consumer contracts. Unlike many civil law jurisdictions, English law does not require disclosure of material facts in pre-contractual negotiations. This is a reflection of the Western view of information as a ...

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