Contracts from a Multidisciplinary Perspective

Research Areas : Contract Law

Journal : Gloria Juris (Scientific Journal Published by Faculty of Law of Unika Atma Jaya Jakarta)

Volume : Vol. 6, No 2. May-August 2006

Year : 2006

Contracts are normally necessary for any individuals living in a community, whether business-related or not. Contracts are paramount to ensuring the harmony between different interests among people living in the community, whereby they can cater for the interests of those involved in the contracts. The interests of each party should not be formulated haphazardly but should be composed with a clear guideline, that is, they should not deviate from the moral values prevalent in the community. The ethical values should be respected so that the contract law is based on the prevailing principles of contract laws and reflects the ethical values present in legal norms. In addition to the normative provisions and the ethical values to uphold, the economic aspect is particularly evident in business-related contracts, because the parties involved usually aim to achieve efficiency while obtaining profit for each other.