Statutory Control over Exemption Clauses in English Law

Abstract

This study primarily concerns the various aspects of UCTA and UTCCR which are legislated to control express terms particularly in standard form which seek to absolve either wholly or in part from the liability under the contract or for a tort connected with the contract. It describes and analyzes in detail the provisions of UCTA and UTCCR in order to offer practical advice to lawyers who may deal with various exemption clauses which are found in transactions directly or indirectly related to the UK and to provide basic materials for a future study in comparison to Korean law. It also attempts to evaluate them in light of the discipline of law and economics the basic question of which is how efficiently the existing law responds to any potential market failures caused by the use of standard form contracts.