The surrounding circumstances which give rise to a contract are commonly referred to as the factual matrix. The frequently cited definition of the factual matrix comes from Prenn v. Simmonds, [1971] 3 All E.R 237 (HL), at 241: ...evidence of the factual background known to the parties at or before the date of the contract, including evidence of the ‘genesis’ and objectively the ‘aim’ of the transaction.
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