Soft Power in Japan and South Korea

Soft Power in Japan and South Korea The term ‘soft power’ is often used in the discussion of popular culture. This essay will utilise knowledge obtained through scholarly enquiry and education in Asian studies to discuss popular culture as a form of soft power. Firstly, I will provide a summative outline on the theory of soft power. Following this I will discuss Japanese and South Korean popular culture and whether they are consistent with the theory of soft power. The thesis of this essay will argue that soft power is a useful term in relation to the discussion of popular culture. Joseph Nye, who focuses on international relations, developed the theory of soft power in 1990. Nye suggested that power is influencing others to achieve a desired outcome. Similarly, the term ‘soft’ power may be understood through a state’s ability to achieve the outcomes it desires by leading as an example for other states[1]. This conveys that soft power is the ability of a nation to attract others to mirror interests consistent with their own. The desired outcomes of soft power vary, however most nations have broad aims for international stability and consistency, which may prevent or address global and national issues. For example, the United States has used mediums of soft power to justify actions towards ‘weapons of mass destruction’ by presenting American culture as attractive through its liberalism, democracy and human rights. This conveys that soft power is an intangible resource which uses ideologies, culture and economics to address intern ational issues[2]. Soft power has been used in contemporary international relations due to the interdependent nature of nations, making direct force costly. For example, a nation’s militarization incurs political and economic costs, which in return could reduce rather than increase a nation’s power. Rather, soft power is used in other resources such as transnational corporations, which allow more leverage of the global system as a whole. Contemporarily, these resources generate more power for nations because of a shift in power structures. Modernization, urbanization and increased communication have diffused power from the government to private sectors. The spread of power into the private sphere, in regards to transnational corporations, means that the most powerful form of soft power is popular culture. Ideologies of nations can be imbedded into products and communication. These commodities are introduced to other nations through transnational corporations and privat e sectors, who market their products to be attractive, consumerable and resultantly, popular. Since the mid twentieth century, Japan has been increasingly integral to global popular culture. Central to Japanese exports are manga and anime, the most distinguished forms of Japanese popular culture; hence their potential as forms of soft power. Japan’s ‘International Exchange Research Programme’ of 2003, reported the potential for Japanese popular cultures assistance in international diplomacy[3]. It was theorised that positive national images should be embedded into popular culture; mainly through the pre-existing subculture of manga and anime. The report’s recommendation was facilitated, and organisations such as the ‘Japan Cartoonist Association’ were created to reward artistic innovation. In conjunction with Japan’s conveyance of its national image, McGray suggests that Japanese popular culture is seemingly egalitarian; devoid of perspective and hierarchy[4]. This suggests that popular culture has effectively used ideologies, in accordance with culture and economics, to embed a positive national image. Therefore, popular culture that embeds national ideologies is a form of soft power. The Japan Cartoonist Association generates most of its interest and revenue from foreign states, which suggests that manga and anime are attractive to other nations. Hills argues that its appeal comes from the characters within manga and anime narratives, who are internal and selfless[5]. For example, Spike, the hero from ‘Cowboy Bebop’ was not a saint; a paradigm of the right morals, or always successful in his ventures. This conveys an opposition to Western ideologies of individualistic heroes, who fight on the right side of justice and always succeed. In accordance, its attraction may be sourced from manga and anime’s postmodernism; which allows an escape from modern Western culture. Therefore, popular culture that attracts others, generating international interest and revenue is a form of soft power. Market forces and consumer preferences drive the production and global consumption of manga and anime[6]. For example, the production company, Studio Ghibli has been increasingly popular in the market due to the international consumer desire for Japanese anime. Otmazgin argues that consumer desire is notably expressed in increasing trade, production and interdependence, with the importance of intra-East Asian trade tripling over the last forty years[7]. In accordance, corporations and organisations have had increasing influence and power in transnational relations, such as shaping economic relations and improving perspectives of Japanese culture. In accordance, corporations and organisations have had increasing influence and power in transnational relations, such as shaping economic relations and improving perspectives of Japanese culture. Therefore, popular culture that empowers corporations and private sectors’ leverage over global systems is a form of soft power Post-war perceptions, such as the Japanese being aggressive or imperialistic, and policies have prevented some of the Japanese state’s diplomatic aims. Mainly, Japan wishes to attain permanent membership on the UN Security Council[8]. In conjunction, the Japanese state has realised the potential of popular culture in facilitating the state’s desired outcome. Popular culture has generated economic prosperity, as well as conveying ideologies of a positive, progressive Japan. These resources may be considered effective in disassembling post-war perceptions and regulations. Equally, popular culture’s economic success has allowed Japan to become the second largest contributor to the UN’s budget, giving leverage over their diplomatic aim. Therefore, as Nye outlines, popular culture that influences a state’s desired outcome is a form of soft power. In the late 1990’s, South Korea was propelled into global popular culture. So profound was the movement, it has been described as the Korean Wave; with popular exports such as Korean films and music. Korean popular culture may be termed as a form of soft power. The Kim Dae Jung administration, in 1998, designated the media and entertainment sectors as a focus for development. In accordance to these political agendas, entertainment based private sectors increased their national significance. For example, the film industry doubled its Korean market share within the year. Central to the recognition of these industries is that they contain cultural content, which can enhance images of Korea. Joo argues that Korea attempts to embed into its cultural exports the idea that Korea is refined, sophisticated and prominent[9]. This suggests that Korean popular culture uses ideologies, in accordance with culture and economics, to embed a positive national image. Therefore, popular culture that embeds national ideologies is a form of soft power. Korean industries are increasingly obtaining status, interest and revenue from foreign states. Taiwanese television currently pays almost double to broadcast a Korean drama over a Japanese production. This suggests that Korean popular culture is attractive, which may be due to its balance of traditional and modern cultural values. For example, the Korean drama, ‘Winter Sonata’, encapsulates social conservatism, employing traditional morals of being sensitive, gentle and caring, yet presented in a modern environment. In accordance, South Korea provides a model for other conservative Asian states; how to modernize and keep traditional values. Therefore, popular culture that attracts and leads as an example for others is a form of soft power. With the adoption of Neo-Liberal approaches in South Korea, power was diffused from the government to private sectors[10]. Neo-Liberal strategies invoked privatisation and deregulation, which in return allow capitalists to govern systems of production, advertisement and consumption. For example, Korean music is governed by private sectors to be resonant with the Asian youth, which would have previously been stymied by the Korean nationalist government. This conveys that private sectors have more determination in generating what popular culture constitutes, and in conjunction perspectives of Korean Culture. Therefore, popular culture that empowers corporations and private sectors’ leverage over global systems is a form of soft power. Post-Cold War perceptions of South Korea may be summarised as contemptuous, inferior and economically weak; which were supplemented by the Korean financial crisis in the 1990s. Though, the Kim Dae Jung administration realised the potential of popular culture in granting diplomatic power; by conveying ideologies of an influential and prominent nation. By creating cultural markets and consumer demand, the state has effectively facilitated their desired outcomes. South Korea now ranks in the top 15 market economies, and feelings of affinity towards South Korea have increased unanimously, and by almost double in Japan during the Korean Wave[11]. Effectively, The South Korea state now constitutes a substantial amount of power, conveying the success of soft power in achieving their diplomatic aims. Therefore, popular culture that influences a states desired outcome is a form of soft power. Japan and South Korea have both provided examples of soft power that is derived from popular culture. In Japan, popular culture was able to generate power and influence in their diplomatic aims; conveying a positive image of Japan and gaining leverage over permanent membership on the UN Security Council. Similarly in South Korea, popular culture was able to convey a refined, sophisticated and prominent nation in conjunction with facilitating their prominence on the global market. Therefore, soft power is a useful term in relation to the discussion of popular culture. References Er Lam, Peng, â€Å"Japan’s quest for soft power: attraction and limitation.† East Asia 24, no. 4 (2007): 349-363. Hills, Mat, â€Å"Transcultural Otaku: Japanese representations of fandom and representations of Japan in anime/manga fan cultures.† Media in Transition 2, (2002): 1-13. Joo, Jeongsuk, â€Å"Transnationalization of Korean Popular Culture and the Rise of Pop Nationalism in Korea.† The Journal of Popular Culture 44, no. 3 (2011): 489-504. Joseph Nye Explains the Term Soft Power, Educational Film, directed by Allen Greg (Canada: Conversation, 2004). Kaori, Hayashi, and Eun-Jeung Lee, â€Å"The Potential of Fandom and the Limits of Soft Power.† Social Science Japan Journal 10, no. 2 (2007): 197-216. McGray, Douglas, â€Å"Japan’s Gross National Cool.† Foreign Policy 130, no. 1 (2002): 44-54. Nakarmura, Toshiya, â€Å"Soft Power and Public Diplomacy: How Cool Japan Will Be.† International Studies Association, (2011): 1-26. Nye, Joseph, â€Å"Soft Power.† Foreign policy, (1990). Otmazgin, Nissim, â€Å"Contesting Soft Power.† International Relations of the Asia-Pacific 8, no. 1 (2008): 73-101. Yang, Jonghoe, â€Å"The Korean Wave in East Asia.† Development and Society 41, no. 1 (2012): 103-147. [1] Allen Greg, â€Å"Joseph Nye Explains the Term Soft Power,† Educational Film, (Canada: Conversation, 2004). [2] Joseph Nye, â€Å"Soft Power.† Foreign policy, (1990): 161. [3] Nissim Otmazgin, â€Å"Contesting Soft Power.† International Relations of the Asia-Pacific 8, no. 1 (2008): 81-82. [4] Douglas McGray, â€Å"Japan’s Gross National Cool.† Foreign Policy 130, no. 1 (2002): 47. [5] Mat Hills, â€Å"Transcultural Otaku: Japanese representations of fandom and representations of Japan in anime/manga fan cultures.† Media in Transition 2, (2002): 10. [6] Peng Er Lam, â€Å"Japan’s quest for soft power: attraction and limitation.† East Asia 24, no. 4 (2007): 350. [7] Nissim Otmazgin, â€Å"Contesting Soft Power.† International Relations of the Asia-Pacific 8, no. 1 (2008): 85. [8] Toshiya Nakarmura, â€Å"Soft Power and Public Diplomacy: How Cool Japan Will Be.† International Studies Association, (2011): 14-15. [9] Jeongsuk Joo, â€Å"Transnationalization of Korean Popular Culture and the Rise of Pop Nationalism in Korea.† The Journal of Popular Culture 44, no. 3 (2011): 496. [10] Jonghoe Yang, â€Å"The Korean Wave in East Asia.† Development and Society 41, no. 1 (2012): 107. [11] Hayashi Kaori and Eun-Jeung Lee, â€Å"The Potential of Fandom and the Limits of Soft Power.† Social Science Japan Journal 10, no. 2 (2007): 213.

What Impressions of the Characters Relationship Are Conveyed by the Language They Use, and the Interaction Between Them

What impressions of the characters relationship are conveyed by the language they use, and the interaction between them? In this text, the opening scene of Ibsen’s Dolls House, the conversation between Helmer and Nora shows who acts as a more authoritative figure through imperatives, patronising lexis and explanative language. This is to show the relationship between the married couple regarding terms of how they address each other. I will also consider gender theories such as Debora Tennen’s gender theory of politeness and Zimmerman and West’s suggesting men are more dominating in conversation.The purpose of the text, A Dolls House, is to reveal information about the relationship between Nora and Helmer through the interactions of their conversation and their lexis. Nora speaks in a polite manor, ‘just this minute’ which could be interpreted through Trudgill’s gender theory suggesting women use precise pronunciation to aim to be viewed at a h igher class. The adjective, ‘just’ could imply Nora will act quickly in order to respond to her husband because he has a higher status and power over herself.However, her husbands language is very different, ‘been wasting money again? ’ this rhetorical question implies a threatening and dominant tone. This could be interpreted by kZimmerman and West’s gender theory which suggests men act more dominant in conversation in order to gain and keep power. The terms of address the couple use change in relation to the conversation topic. Nora addresses her husband by his second name, ‘As you please, Torvald’ which could imply their relationship is formal and she has little authority as he holds all the power.This could be interpreted by Debora Tennen who states that women use terms of address and politeness to form bonds. However, Helmer addresses Nora in two different approaches; whilst they are having a general conversation Nora is referred to as his possession, ‘My little skylark’ the adjective ‘little’ implying she is belittled as she has no authority. Also, the use of the pronoun, ‘my’ implies Nora belongs to Helmer and she has control over her hence the metaphor for her name.However, when Nora ‘misbehaves’ she is addressed with her name, ‘Nora, Nora! Just like a woman! ’ his use of explanative language portrays his loss of patience with her but also he is telling her off like Nora is a child in a patronising manor. The repetition of ‘Nora’ implies she has done wrong and he dismisses her to get her to behave like a father would to a child. This could be interpreted by Grice’s maxims of quantity as he speaks more than Nora implying he has a higher level of authority and power.

Jack Kerouac’s On The Road

The ideas presented in the novel about life, beliefs, different feelings, and the kind of harassers depicted shaped America's youth culture for decades and the book became a sort of icon for this generation. On the Road provoked a change in the consciousness of the country. As Kerouac friend, William Burroughs, wrote, â€Å"It sold a trillion Levies, a million espresso coffee machines, and also sent countless kids on the road† (Change, 2007). Moreover, Kerouac book was also used as a gulled for several people In their road trips.In this essay, I will try to examine the way in which On the Road gives voice to the new social attitude which emerged after the publication of the book and it is known as the ‘beat' generation. The novel seems to promote a series of revolutionary values against the official conventions of America. In this way, traditional family values of responsibility, morality, religious ideas and working hard -as the family portrayed in Capote's In Cold Bloo d- are oppositely represented in the novel. Dean Mortality refuses to assume the social responsibilities that society imposes upon him.He Is with two women at the same time, so he Is not faithful to his wife. Moreover, he leaves his wife and children and goes on the road without worrying about their welfare. He Is very Irresponsible and because of him many people suffer. An example to Illustrate this would be noon have absolutely no regard for anybody but yourself and you damned kicks†¦ † (Kerouac, 1972: 182). Besides, both Dean and Sal are always short of money but they do not care about it and go on the road anyway. They do not have a permanent Job or work hard to keep the Jobs they get in some cities they arrive.Although, Sal writes book and tries to sell them, he is always has to ask her generous aunt to send him money. Then, both Dean and Sal have another philosophy of live, they want to have fun without responsibility and they do not care about American rotational v alues. Therefore, the novel presents a detachment from the American conventional society. This detachment from American traditional values created a new social attitude, depicted in Kerouac novel, which showed restlessness and dissatisfaction.The These people were idealistic and yearn for something more than the conformity of a prosperous society, which had became flourishing after the World War II to turn into one of the most powerful countries in the world. In the novel we can see how the characters go on the road because they are not satisfied with their lives and desire to get freedom. In that way, we can see the road as an open path which gives freedom as well as thrill of movement. With these Journeys, the characters also reflect the Joy of being young and alive, with no money in their pockets but no obligation either.A part from traveling, characters seem to vindicate the use of drugs, drink, sex, and music since these are the most characteristic things of their trips. These also help them in the search of the release they are looking for. Moreover, crossing the country in that way was only possible because at that time there were many motorways due to the prosperity of the country and cars began to e accessible for more people. In the novel, we can see how the car represents the consumer society of the time and how the characters do not fit into it.For instance, Sal made his first travel to the West by hitchhiking because he does not have money. Later, in another travel, Dean bought a new car -although he does it with all the money he had saved, leaving his wife without anything. This is something very important because for them the car is their dream of freedom. They can go wherever they want without depending on anybody, that is, without hitchhiking. However, when Dean picks up Sal for the first time with his new car, Sal realizes that it was already broken: â€Å"The radio was not working.It was a brand-new car bought five days ago, and already it was broken† (Kerouac, 1972: 111). In addition, we can also see this consumption in other aspects such as when Sal goes to the opera and wears a friend's suit. He feels on the top of the world (Kerouac, 1972: 51). Another aspect that we can see in the novel is that Dean and Sal go on the road since they yearn for new experiences which can contribute to their personal development as individuals. For them, life is a process and they want to find its meaning.They do not stop moving because they feel the necessity to do so. Several examples to illustrate this can be â€Å"we were performing our one and noble function of the time, move† (Kerouac, 1972: 127); â€Å"the road must eventually lead to the whole world† (Kerouac, 1972: 216). Traveling on the road also gives the characters self- knowledge and even maturity. Then, moving seems to be a necessary tactic for survival. This is connected with the fact that the real Journeys turn to be inward journeys for each charac ter. This is better seen in Sal Paradise.He seems to be searching for something since his Journeys are like quest for values or beliefs. He mess to get it while he is on the move, but the moment he stops, he wants to come back. He does not find what he is looking for. For instance, the first time he arrives San Francisco, after having wished going to the west a lot, he feels lonely and he wants to come back. He does not find the ‘paradise' he was looking for and so he has to keep moving. Society. He feels lonely, restless and depressed. He is also afraid of falling in love: â€Å"a girl like that scares me† (Kerouac, 1972: 214).He described himself as â€Å"l like too many things and get all confused and hung-up running from one falling star to another till I drop† (Kerouac, 1972: 120). It seems that Sal is disappointed about America. When he arrives at San Francisco he realizes that the continent is not big any more, there is a limit: â€Å"we can't go any fart her 'cause there anti no more land† (Kerouac, 1972: 161). Or when he tries to sit on the banks of the Mississippi River he cannot because the access is blocked with a fence (Kerouac, 1972: 141).The freedom and well-being he is looking for at first is represented by the West, which is also a symbol for future, prosperity and renovation. It is also associated with the traditional idea of the American Dream. On the other hand, the East is considered old, stagnant, intellectual, and he does not want to belong to that. The more Sal is reaching west, the best he feels: † it was getting better as I got deeper into Iowa† (Kerouac, 1972: 20). Therefore, there are two sides of everything: American West which can either fill the spirit and be the epitome of loneliness.It all depends on his emotional state. This view changed as long as Sal has grown as a character. He learns that East is also sweet (Kerouac, 1972: 222) and that there is wilderness in the East too. He becomes s trong, confident and in love. On the contrary, we cannot see this self-development in Dean and maybe that is the season why towards the end of the novel there is a detachment between both characters. Their positions have changed. Dean is incoherent and lost. However, the character of Dean Mortality became a sort of hero for this generation.Dean's arrival put everything into motion. He is full of energy, very masculine; he has impulsive passion; he represents what Sal is not. He symbolizes the pioneering instinct, the spirit of the west, idea of moving west to get freedom. So he is the personification of Gal's dream of the west. At the beginning he is seen as a sort of prophet (Kerouac, 1972: 38) but this is broken towards the end. As I said before, he is very irresponsible, even a con-man and almost a delinquent as he stole cars Just for fan.Victor, the Mexican man, is the first man to refuse Dean's attempt to follow him onto the road. His moral obligations to his wife and child are clear to him. He represents the morality Sal is in search of. Therefore, although the novel seems to celebrate the character of Dean Mortality, he is a questioned hero. To conclude, I have been talking about how Jack Kerouac On the Road inspired a new cultural phenomenon, which was known as the ‘beat' generation. I have pointed UT what I think the most relevant evidences are to show the way the book presents this new social attitude.

Modern European Economics essays

Modern European Economics essays German Reunification- On October 1989 the East German government was in crisis. President Honecker resigned, and his successor, Egon Krenz, promised to give Germany a reform. November 9, it was decided that the Berlin wall no longer served as a function, and east and west Germans attacked the wall tearing it down, as a result, they formed a union, stabilizing social and economic structures. The financial systems merged, and economic problems out grew from this change. The cost of providing goods and services between the east and the west caused strain, and money loss, which would result in economic recession. This caused cutting of social services, increased taxes, and reducing government subsides. A positive economic result from unification was the increased competitiveness of German economy, brought by the increasing market of consumer products. Collapse of the Soviet Union- The USSR collapsed in 1991 causing it to become an independent nation. The progressing problems of the new government caused an exceptional time of economic crisis that effected Russia and putting it in a much worse state in which it had been in an economic decline since the 1970s . It suffered foreign reserves which impaired the countries ability to import goods. Shock therapy program- Prime Minister Yeltsins economic reform for Russia which included freeing prices, and removing legal barriers to private trade and manufacture. This government form was hard to implement in Russia, even though it freed most prices, it still maintained controls on the prices of certain basic consumer goods and key economic inputs. Maastricht Treaty- Agreement that put the European Union as successor to the European Community. It introduced a central banking system, and common currency. It also worked toward establishing a common foreign and security policy. The treaty was signed in 1991, it was ratified and later took effect ...

Free Essays on Appointment With Love

The short story, "Appointment with Love†, by S.I. Kishor, is a romantic story about a young lieutenant and lady who fall in love. The author shows that true love is possible between two people who have never met if they are able to trust their true inner feelings and instincts. The writer accomplishes this message to the reader through the use of the setting, tone and each individual character in the story. The setting in this story is established as it instantly grabs the attention of the reader. The author begins the story in the first sentence by describing the location of New York's Grand Central Station with a tall lieutenant waiting to meet a woman who he has communicated with for over a year. By drawing all attention to the lieutenant, the reader is immediately given a clear image of Lieutenant Blandford, standing anxiously waiting to meet the woman who he has never seen but claims to love. Throughout the story, the author brings the reader out of the station to places that the lieutenant has recalled thinking of this woman. The author uses these different settings to show how this woman has had the power to reach inside of him through writing and renew his strength even from a far. The author then redirects his attention back to the station, as the time to meet Hollis Meynell grows closer. Although the setting is used to describe the atmosphere, the tone is used effectively to c ommunicate the complete and compelling feeling and emotion to the reader. The author’s use of a suspenseful tone has the reader waiting anxiously from the first line to the end. The mood is instantly set on a time schedule as the author begins the story by saying, "Six minutes to six". By doing this, the author creates a feeling of excitement as the reader realizes something exciting is about to happen. He also creates a feeling of uncertainty for the lieutenant, which makes the tone even more dramatic. As the clock grows near a minute from six,... Free Essays on Appointment With Love Free Essays on Appointment With Love The short story, "Appointment with Love†, by S.I. Kishor, is a romantic story about a young lieutenant and lady who fall in love. The author shows that true love is possible between two people who have never met if they are able to trust their true inner feelings and instincts. The writer accomplishes this message to the reader through the use of the setting, tone and each individual character in the story. The setting in this story is established as it instantly grabs the attention of the reader. The author begins the story in the first sentence by describing the location of New York's Grand Central Station with a tall lieutenant waiting to meet a woman who he has communicated with for over a year. By drawing all attention to the lieutenant, the reader is immediately given a clear image of Lieutenant Blandford, standing anxiously waiting to meet the woman who he has never seen but claims to love. Throughout the story, the author brings the reader out of the station to places that the lieutenant has recalled thinking of this woman. The author uses these different settings to show how this woman has had the power to reach inside of him through writing and renew his strength even from a far. The author then redirects his attention back to the station, as the time to meet Hollis Meynell grows closer. Although the setting is used to describe the atmosphere, the tone is used effectively to c ommunicate the complete and compelling feeling and emotion to the reader. The author’s use of a suspenseful tone has the reader waiting anxiously from the first line to the end. The mood is instantly set on a time schedule as the author begins the story by saying, "Six minutes to six". By doing this, the author creates a feeling of excitement as the reader realizes something exciting is about to happen. He also creates a feeling of uncertainty for the lieutenant, which makes the tone even more dramatic. As the clock grows near a minute from six,...

Globalisation and International Relations Essay

Globalisation and International Relations - Essay Example Considering theoretical perspectives, Anievas (2005) discusses theories of IR and goes into the detail pf Habermasian social theory to understand the practical implications of such a theory considering discourse ethics and communicative action. Anievas suggests that the contradictory nature of international relations and its relation to globalisation perspectives could be understood within the Habermasian context and the constructivist approaches to IR also have more socially oriented applications of the Habermasian framework (Anievas, 2005). Habermas emphasized on the importance of the public sphere, and the need for a political community transcending nation state on ethnic and cultural similarities for a community based on equal rights and democracy. Thus the Habermasian framework could be applied within socialisation perspectives to explain globalisation as a phenomenon which transcends cultural or ethnic boundaries for equality at all levels. Discussing on the role of foreign pol icy practised by the global powers, as the United States, Mabee (2004) suggests that the US foreign policy is defined and explained in terms of imperialism and the notion of an empire. Mabee points out that the US as an empire probably conveys deeper meaning to the process of foreign policy and US domination than the concept of US as an imperial republic. According to Mabee, the notion of imperialism would suggest the dynamics of power and coercion that seem to be a part of an anarchic international system. Imperialism and globalisation has a direct relationship with certain interpretations of globalisation being focused on the influence or hegemony of one culture especially western culture on the other more oriental cultures (Mabee, 2004). There are other theoretical alternatives, such as the constructivist approach to globalisation, and Palan (2004) suggests that constructivism in international relations has a string link with

USA Contract Law Assignment Example | Topics and Well Written Essays - 2000 words

USA Contract Law - Assignment Example The contracting parties need to be of legal age and sound competence and they should agree mutually on the terms of the contract. The contract law is governed by the provisions of the UCC and the Restatement of Contracts. The UCC governs the sale of tangible and movable assets, property leases, and financial transactions. The common law principles of a contract are summarised, restated and published as the Restatement of Contracts by the American Law Institute. Legal professionals quote the provisions of the Restatement in their written opinions, though this does not have the force of law.[2] When a contract is made, both parties expect some benefit from it and the terms and conditions are consensual. Since unforeseen events in the future may create a loss for any one party, it is essential that both parties are very thorough about the meaning of the content to which they are putting their signature. The whole concept of contracts deal with the future and in many cases gives rise to problems; one or both parties may find that the events that they had anticipated had not gone their way. The problem may be due to a 'mistake.'When one or both parties, to the contract, erroneously believed that certain facts in the contract are true, then a 'mistake' is said to have occurred. In contract law, a mistake can be used to invalidate the agreement. There are two different types of mistakes, according to common law. A 'unilateral mistake' occurs when only one party is mistaken about the terms or contents of the contract. A 'mutual mistake' or a 'common mistake' occurs when both par ties, to the contract, are mistaken about the same term or condition in the contract. Since these mistakes can be used as 'excuses' to invalidate a contract, the provision of 'objective standard of agreement' becomes important in contract law.