Contracts are an integral part of everyday life. Working for an employer; insuring your car or your house and even
buying a pint of milk are all governed by the law of contract. Although each of the three situations given above
have their own specialist areas of law (employment law, insurance law and consumer law respectively) they are all
governed by a set of underlying fundamental principles often referred to as the "general law of contract". The
increasing development of specialised areas for particular types of contract has led to some discussion as to
whether this general part should be abolished. Whilst as a matter of legal practice there is unlikely to be a case
involving purely the general contractual principles outlined here, it should be emphasised that the basic rules are
still fundamental for an understanding of these more advanced fields.
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If the members are deferred members of the scheme but remain employed by the employer, then
contributions to the scheme for lump sum death benefits will not result in the scheme being required to apply for
authorisation and approval to operate cross-border if these benefits are calculated by reference to the members'
salaries at the date of deferment.
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