Essential View on the Grounds of Invalidity of Bargains

Abstract

In the question of determining the concept of “invalidation of transactions”, the prevailing approach is the one that determines such grounds as defects in the transaction structure (in terms of will and will, subject composition, content and form), leading to the possibility of qualifying it as invalid. This view can be characterized as formal, based on a literal interpretation of legislative norms. This approach suggests the author to oppose the essential approach, proceeding from the interpretation of the grounds as the reasons for the legal regulation of legal institutions in one form or another. At the same time, the key category in determining the content of such grounds is the category of interest as a specific social need for the legal regulation of certain social relations resulting from the economic structure of society and the political features of its development.

Keywords

• grounds for rescission
• economic analysis of law
• invalid bargain
• invalidity of bargains
• essential view