The role of legislature in maintaining the contract Comparative analytical study
|Journal of Anbar University for Law and Political Sciences
|Volume 13, Issue: 2 part 2, December 2023, Pages 873-923 PDF (941.28 K)
|Document Type: Research Paper
|Zhiman Ramadhan Saeed* 1; Abdul Karim Saleh Abdul Karim2
|1University of Duhok
|2University of Dohuk, College of Law
The contract, as significant legal device of exchanging wealth and money between individuals, has an outstanding role in the economy. Perhaps, the contract in its effects is no longer confined to its parties, but farther it is found having a crucial social and economic function. Apparently, for any contract to be legally concluded, there is a need for a set of legal elements and conditions to be met. Where such conditions are satisfied, the contract produces its effects and turns to a binding contract upon the contracting parties. Then, the contracting parties are obliged to perform the contract in pursuance to good faith. Nevertheless, it is possible that the contract is defected in a way or another, rendering the contract prone to termination, whether in a form of invalidation, annulment. To this end, there is a real threat on stability of transactions when reasons terminating contracts increase.
This research explore the means by which a contract can be kept from lapse, especially in contracts of high value. The way to preserve contracts from termination may be fulfilled by a direct intervention that the legislature makes in the contract via various principles, including the principle of good faith or the principle of stability of transactions. These solutions offered by the legislature may grant the judge the discretionary authority to either change the form of the contract or rectify it, deviating exceptionally from the principle of (the contract is the law of the contracting parties).
|manners؛; termination؛ ؛؛; maintain
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