A comparison of the english contract law with the equivalent in cyprus

History of English contract law and History of contract law The Court of Common Pleas here in was, with the Court of King's Benchthe common law court that heard early cases about broken agreements in debt. Until it resisted hearing cases without claimants risking perjury. The modern law of contract is primarily a creature of the industrial revolution and the social legislation of the 20th century.

A comparison of the english contract law with the equivalent in cyprus

Unlike most other common law countries e. Englandbut aligned with civil law countries such as France, US law does have a general duty of good faith in the performance and enforcement of contracts.

English law does not have a general implied duty of good faith except in limited areas such as employment law and insurance law in relation to pre-contractual disclosure by a party seeking cover. Terminology — Style The choice of words in an American law and English law contract can cause different results.

The danger of using different terms to those regularly interpreted by the courts in a particular jurisdiction is that the courts may consider that the parties intended something different to what would generally be intended by the use of the correct terminology.

Another example would be the use of the word merchantable quality in relation to a sale of goods contract in contrast to satisfactory quality which is English law term.

A comparison of the english contract law with the equivalent in cyprus

It is questionable whether an English court will interpret merchantable quality as equivalent to satisfactory quality. Interpretation Under English law the test in relation to an ambiguous clause is what would the clause reasonably mean to a person with all the background facts available to the parties at the date they entered into the contract.

The courts are not entitled to take into account parole evidence such as pre-contractual discussions or earlier drafts and agreements in order to construe the meaning of a particular clause.

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In civil law jurisdictions the aim is to ascertain the good faith intention of the parties taking into account all appropriate facts and circumstances, customs and practices and in such instances parole evidence is acceptable for such purposes. The US system seems to prefer a more civil law approach with regard to interpreting what the good faith intentions of the parties are, albeit that in line with the English law system, no parole evidence is admissible.

Mistake The concept of unilateral mistake i. Under US law the mistaken party can avoid the contract if enforcement would be unconscionable and the innocent party did not know or have reason to know of the mistake.

English law on the other hand often consider such losses as direct losses and therefore in order to exclude such losses the party must expressly and properly exclude such losses by clear wording.The law of Cyprus (Greek: Κυπριακό Δίκαιο) is a legal system which applies within the Republic of Cyprus.

Although Cyprus law is extensively codified, it is still heavily based on English Common Law in the sense that the fundamental principle of precedent applies.

PARTII. The comparison of the English contract law with the equivalent in Cyprus. As I mentioned in my introduction Cyprus is following the English system so laws are the same except of few differences.

A comparison of the english contract law with the equivalent in cyprus

Briefly I will outline and some of the main differences; but before I will give you a brief summary on Cypriot law of contract. Some key differences between US and UK/EU contract law US law does have a general duty of good faith in the performance and enforcement of contracts.

English law does not have a general. This part of our note will be dedicated to the remedies for non-performance offered by an European text relating to contract law- the Principles of European Contract Law (B), after having briefly given general information about the background of the text(A).

The Contract Law, Cap. is the key law governing contracts in Cyprus. It applies the rules of interpretation adopted in English law and is generally construed in accordance with English law unless the Contract Law (or case law) expressly provides otherwise.

A comparison of the english contract law with the equivalent in cyprus What does bond yield mean in finance equivalent bond yield by comparison, portugal 's year bond yield is 2 cyprus. Laws and courts in italy: italian law is based on roman law, particularly its civil law, and on french napoleonic law (itself based on the roman model.

THE LAW OF CONTRACT. CHAPTER OF THE LAWS OF CYPRUS