Story: Law and the economy

Māui gas platform

Māui gas platform

A contract to build a platform for extracting resources from the seabed, such as the Māui B platform off the Taranaki coast, has to have many provisions because innumerable circumstances, some of them unforeseeable, could affect the completion of the contract. In contrast to contracts for the sale of a car or a house, the negotiation of complex contracts can be costly, as considerable professional expertise is required in drawing up the contract.

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New Zealand Petroleum & Minerals, Ministry for Economic Development
Photograph by David Fairey

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How to cite this page:

Lewis Evans, 'Law and the economy - Contract law', Te Ara - the Encyclopedia of New Zealand, (accessed 16 April 2024)

Story by Lewis Evans, published 11 Mar 2010