Contract reform in court :
- Contract reform is about rewritten of intentions which will
express in a better way for both of the parties.
- It happens for better discussion of contract laws and legal
reformation when a breach of contract occurred between the
parties.
- The situation when all the written documents are not matching
as per the parties understanding, then court of law may use
reformation for settlement of the dispute.
- For business organizations when there is dispute regarding
trade settlement between the counter parties, there will be a
chance for termination of contract agreement. So in that case
federal contact law will revise the agreement and issues new
schedule of contract in order to avoid financial loss.
- As per the article code 1171, the part of contract which
contains non- negotiable clauses and determined in advance by one
of the parties then it will create reform of that respective
contract in court.
All the best for your exam! Thank you!