Dealing with lacunae in the contract - The applicability of superlative legislation in case of lacunae
3 important questions on Dealing with lacunae in the contract - The applicability of superlative legislation in case of lacunae
What is the purpose of supplementary legislation?
Completing contractual arrangements: it prevents gaps and reduces the costs of negotiations and drafting.
How does supplementary legislation achieve its goals?
By reflecting the kind of arrangement that reasonable and well intentioned parties would have made if faced with the same question.
Why is it impossible to achieve a comprehensive codification of supplementary laws?
Because parties freely construct the contract according to their interests.
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