Incomplete Contract in Private Finance Initiative (PFI) Contracts: Causes, Implications and Strategies

Publication date: 23 June 2016 Source:Procedia - Social and Behavioral Sciences, Volume 222 Author(s): Nur Syaimasyaza Mansor, Khairuddin Abdul Rashid An incomplete contract is a contract that fails to state all the parties’ rights and obligations, has gaps, missing provisions, and ambiguities in its terms and conditions. In theory, a complete contracts cannot be achieved, and many contracts inevitably remained incomplete. This phenomenon also applies to Private Finance Initiative (PFI) contracts. Human factors play an important role in determining the completeness of a contract. In the context of PFI contracts, this paper presents a critical review of incomplete contract, its causes, implications, and strategies.
Source: Procedia Social and Behavioral Sciences - Category: Psychiatry & Psychology Source Type: research