Standard form of contract pdf

Unsourced material may be challenged and removed. There is much debate on a theoretical level whether, and to what extent, courts should enforce standard form contracts. On one hand, they undeniably fulfill an important role of promoting economic efficiency. On the other hand, there is the potential for inefficient, and even unjust, terms to be accepted by standard form of contract pdf to these contracts.

Such terms might be seen as unjust if they allow the seller to avoid all liability or unilaterally modify terms or terminate the contract. They might be inefficient if they place the risk of a negative outcome, such as defective manufacturing, on the buyer who is not in the best position to take precautions. The prospect of a buyer finding any useful information from reading such terms is correspondingly low. Coupled with the often large amount of time needed to read the terms, the expected payoff from reading the contract is low and few people would be expected to read it. The most important terms to purchasers of a good are generally the price and the quality, which are generally understood before the contract of adhesion is signed.