Abstract
This research applies a model that explains and governs the contractual transaction between the individuals. The Model justifies the contractual conduct, explains the relationship between the free individual and the public values, and is being used to better apply provisions of law by the two limits of the model: the Will and Interest, the Will matched by the privilege of human being to do whatever he desires as long as it is being legal, and the commitment matched by the Interest as justification of being entering such commitment. The meaning of the term Interest and its relation to the consideration and equilibrium of the contract have been mooted a great attention in the courts. Thus, we have designed a Model of Interest that governs the due balance between parties’ commitments and selected to apply the Model to the contract, as it is the most dynamic reference. Through the influence of the equality between the parties of the contract, the doctrine became established that both parties’ contract obligations were in the same effect, except regarding donations. The Model replaces the legal terms on the basis of the contract, as Will versus Interest, instead of Obligation versus Right, whereas the model has adopted the Will as a ruling model for the contractual relationship and considers the obligation as a result of the Will the individuals make. It is the objective of this article to consider the meaning of the term Interest so far as it concerns the law of contract. The Model is intended for all members of the judges, practicing lawyers, and academics. The Model of Interest explains and governs the contract. The Model rationalizes the contractual conduct and clarifies the relationship between the autonomy of the will and the public considerations, especially the public values. We recommend rationally reconsidering a contemporary liberal conceptualization of contract, along with social approaches.
Published Version (
Free)
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
