Developing a relational law of contracts: striking a balance between abstraction and contextualism

Abstract Relational contract theory holds that the interpretation of a must take full account context and surrounding circumstances parties’ bargain so as to give effect their respective intentions. This paper argues if relational treatment contracts is be institutionalised, in sense being utilised dispute determine intentions, then it operate at an abstract level. That say, rather than using relevant what actual parties intended hand, contextualist enquiry should ascertain by reference would have agreed circumstances, had they properly reflected on self-interest requires. I discuss merits this proposition number appellate judgments, which already endorse contextualism response contractual ambiguity, ultimately apply Supreme Court's judgment Rainy Sky SA v Kookmin Bank.