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Standardization of Standard-Form Contracts: Competition.
While standard form contracts assist business efficiency, it is essential to take into account the terms of the contract and determine whether or not they are fair. This article explores unfair terms in standard form contracts, including how to identify and avoid them. What is a Standard Form Contract?Todd Rakoff graduated from Harvard Law School in 1975, and joined the faculty in 1979 after clerking for Hon. Henry Friendly and practicing with Foley, Hoag and Eliot in Boston. He teaches contracts and administrative law, has been Dean of the J.D. Program, and is presently the Byrne Professor of Administrative Law.The institute of the contract of adhesion is suffering changes in Russian Contract Law nowadays. Moreover, the concept of unfair terms has been recently introduced to court practice.
Contracts of Adhesion: An Essay in Reconstruction, 96 Harv. L. Rev. 1174 (1983). Explicitly rejecting public law and monopoly power analyses, Rakoff views contracts of adhesion as part of the relationship between institutionalized firms and their customers.Contracts indirect in actuality and contracts implied in law are both an element of implied contracts. Other than a real implied contract consists of firm obligations that arise from a mutual agreement and goal of promise, which is not expressed orally.
