Commercial Purpose and Business Common Sense in Contractual Interpretation

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Abstract:

This Analysis examines the Supreme Court case of Rainy Sky SA v Kookmin Bank. This case is significant for it not only sheds light on when and how business common sense can be deployed by the courts, the dicta can be read as an important qualification of the circumstances in which courts can depart from the clear and unambiguous meaning of the words in a contract in order to give effect to its commercial purpose or to make the contract more commercially sensible.

Document Type: Research Article

DOI: http://dx.doi.org/10.5235/096157612800081187

Publication date: February 1, 2012

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  • Until 2007 the King's Law Journal was known as the King's College Law Journal. It was established in 1990 as a legal periodical publishing scholarly and authoritative Articles, Notes and Reports on legal issues of current importance to both academic research and legal practice. It has a national and international readership, and publishes refereed contributions from authors across the United Kingdom, from continental Europe and further afield (particularly Commonwealth countries and USA). The journal includes a Reviews section containing critical notices of recently published books.
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