Unit 3 - contract terms (interpretation)

Question 1

what is the authority for the main principles of contract interpretation

Answer 1

Lukoil Asia pacific limited v ocean tankers

Question 2

what does Lukoil Asia pacific ltd v ocean takers say about contractual interpretation

Answer 2

ascertain what the reasonable person - who has all the background knowledge which would reasonably be held by the parties in the situation at the time they formed the contract - would have understood the parties to have meant

Question 3

what may be used in interpretation according to Lukoil Asia pacific ltd v Ocean tankers

Answer 3

• words used in documentation and wider factual context

Question 4

what is the authority for the fact that they will balance the textual and contextual approach

Answer 4

Wood v Capita

Question 5

what is the authority that commercial common sense can be used in interpretation

Answer 5

Arnold v Britton