The extensive protection against unfair terms and exemption clauses

“Given the extensive protection against unfair terms and exemption clauses, conferred by the Unfair Contract Terms Act 1977 and the Consumer Rights Act 2015, there is no longer any need for the common law rules relating to the incorporation of onerous or unusual terms.” With reference to relevant statute and case law, discuss the extent to which you agree with this statement.

Sample Solution

A construction contract will generally set out the relationship between two or more parties, each party’s obligations towards the other and what remedies are available if one party does not meet those obligations. However, in the majority of circumstances the law creates other remedies that will be available to the parties regardless of what is provided in the contract.In order to create certainty, the parties may wish to limit the scope of what each can claim for. They can do so by using a clause – often called an ‘exemption clause’ which limits each party’s liability to that which is set out in the contract.

management from top to bottom” and the last one “multinationalizes ownership to corporate stock”.

Finally, firms tend to become multinational by establishing an “Internet Encarta”. As Quelch and Klein argue: “any company that establishes a site on the Internet, automatically becomes a Multinational corporation:”.

 

Conclusion:

To conclude, economic globalization is a thriving phenomenon of the past century and has greatly influenced the world’s economy. Indeed, an aspect of economic globalization is the development of firms into multinational companies.

Nowadays, it has been observed that more and more companies aim in exporting their products and augmenting their costumer database. Either by establishing an Internet Encarta or franchising, firms aim to increase their profits while at the same time they contribute in the construction of a global marketplace and the increase of the world’s GDP.

Also, firms that become multinational, increase the global sales and the size of the market. As a result, customers around the world have a greater variety of products to chose from and therefore, increase any firms’ income.

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