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The lecturer reviewed the foundations of contracting, foremost among them the principle of freedom of contract and the binding force of contracts, which are cornerstones of transaction stability. He also discussed the exceptions established by the legislator to achieve justice, particularly the theory of emergency circumstances and force majeure, as stipulated in the UAE Civil Transactions Law. The lecturer explained that the former arises from an exceptional event that makes fulfilling an obligation burdensome, necessitating modification to achieve balance, while the latter renders the obligation impossible and results in its complete or partial termination.
The lecturer also touched on practical applications in a number of contracts, including lease, contracting, services and transportation, in addition to consumer contracts, highlighting the role of the judiciary in achieving a balance between the stability of transactions and the requirements of justice, stressing the importance of good faith and consensual solutions to settle disputes before resorting to the judiciary.
The lecture saw interaction from the attendees, reflecting the importance of the topic in practical reality.