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Contents - Faculty of Law - University of Cambridge

Contents - Faculty of Law - University of Cambridge

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(iii) Policing Commercial DealingsThe standards <strong>of</strong> conduct (primarily equitable) imposed upon parties to anticipated or actual commercialdealings. Against the backdrop <strong>of</strong> international standards proposed in the UNIDROIT Principles <strong>of</strong>International Commercial Contracts: 2004, the law in common law jurisdictions will be compared andcontrasted as it bears on pre-contractual behaviour, on contract formation, performance and enforcement, andon extra-contractual and post-contractual behaviour. The principal doctrines to be considered are:(a) unconscionable dealing/unconscionable conduct;(b) estoppel in equity (promissory estoppel: USA);(c) ‘good faith and fair dealing’;(d) confidentiality; and(e) the fiduciary principle.Themes to be emphasised are risk assumption and risk allocation, fidelity to a bargain, reasonableexpectations and litigation certainty and costs.The issues to be covered include:liabilities for pre-contractual wrongs, eg misappropriation <strong>of</strong> the contractual opportunity;unconscionability and contract formation and enforcement: Has it any place in dealings between commercialparties (eg franchisor and franchisee)?fidelity to the bargain and judicial review <strong>of</strong> the exercise <strong>of</strong> contractual powers and discretions, eg to vary orterminate a long-term contract;departure from the strict terms <strong>of</strong> the contract.4. Fiduciary Doctrines(a)(b)(c)(d)The nature <strong>of</strong> ‘fiduciary duties’ and their defining difference from other legal duties.The function <strong>of</strong> fiduciary duties (including discussion <strong>of</strong> the philosophical and economic justifications forfiduciary doctrine).The incidence and application <strong>of</strong> fiduciary duties and the appropriateness <strong>of</strong> recognising them in commercialsettings.Remedies: (1) relationship between legal and equitable liability to compensate for losses; (2) relevance <strong>of</strong>contributory negligence; (3) exemplary awards; (4) proprietary remedies through constructive trusts.5. PensionsBasic structure <strong>of</strong> pensions trusts; their similarities and differences from traditional private trusts. Statutory regulation<strong>of</strong> terms. Review <strong>of</strong> discretions in pension schemes. Oversight <strong>of</strong> the operation <strong>of</strong> pension trusts by regulators.Funding and deficits.READINGThere is no main textbook for the course, and students will be expected to examine set reading provided by the lecturers,as well as engaging in their own studies.By way <strong>of</strong> introduction, students from a civilian background would be advised to read:107

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