Law of obligations

The law of obligations ? protects wealth, and (through the law of contract) provides facilities for adding to it. By setting standards for commercial advisers, and those providing services generally, to reach, it provides a framework for business relationships. In providing compensation for personal injury it adds to State benefits already available in the field. Lastly, in protection certain ?moral? interests in themselves, even where no loss is suffered (as with defamation, assault, trespass to land and other ?nonpecuniary? torts) it acts as a sort of social barometer; broadly, the more stringent the protection of an unmeasurable interest, the greater the social importance put on it. If any general theme runs through the law of obligations, as that ?wealth? permeates the law of property, it can only be the very general (and rather inconsequential) one that it provides the fabric of legal control without which social life would be impossible.?

Related Topics:
Contract - Tort - Law of property

~ ~ ~ ~ ~ ~ ~ ~ ~ ~