Download or read book Hardship in Transnational Commercial Contracts written by Catherine Pédamon and published by . This book was released on 2013 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses one of the more controversial dilemmas in transnational contract law, especially in times of economic volatility and change - how should the law and its agents assist in ensuring that contracting parties are held to their promises whilst seeking to prevent economic waste and disorder, both for the parties and society. We live in extremely challenging economic times - the huge financial maelstrom that broke in 2008 and the after-shock effects will remain with us for years to come. Through no fault on their part, commercial people find themselves caught in contracts which have become entirely unprofitable because of the economic turmoil. At the other end of the equation, others are concerned about their contracts not being performed because they have commitments to their own customers and stakeholders which had to be met. Whilst taking sides is frequently seen as the law's responsibility, this work argues that with the appropriate level of intervention by a neutral authority, such as a tribunal, a compromise might be found.
Download or read book Hardship and Force Majeure in International Commercial Contracts written by Fabio Bortolotti and published by Kluwer Law International B.V.. This book was released on 2019-07-15 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Force Majeure and Hardship are commonly invoked in international trade when unforeseen events occur making performance impossible or impracticable. Most national legislators provide rules to deal with these issues, but the specifi c solutions adopted in domestic laws vary substantially from one country to another. In recent years the growing complexity of trade in a globalized world has greatly increased the number of situations where a party can invoke force majeure or hardship. Parties need to be able to analyse the nature and characteristics of force majeure and hardship and look for contractual clauses which can regulate these issues in conformity with their needs. Written by international practitioners, this dossier explores the evolution of the rules on hardship, the ICC Clause on Hardship and the perspectives of contract adaptation by arbitrators. The section on Force Majeure includes an overview of recent arbitral case law (impediment beyond sphere of control and risk of the obligor; foreseeability; causation; notice requirement), analysis of the ICC 2003 Force Majeure Clause and an update on its revision. Two other important themes are included: the relationship between force majeure and applicable law, general principles of law and trade usages as well as the impact of economic sanctions.
Download or read book The Hardship Approach in the UNIDROIT Principles of International Commercial Contracts and Its Equivalent in German Law of Obligations A Comparison written by Karsten Keilhack and published by GRIN Verlag. This book was released on 2007-09-30 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2003 in the subject Law - Comparative Legal Systems, Comparative Law, grade: 67%, Cardiff University (Großbritannien; Law School), course: Comparative Contract Law, language: English, abstract: The UNIDROIT Principles of International Commercial Contracts1 have been published in May 1994 by the Rome-based International Institute for the Unification of Private Law (UNIDROIT), an intergovernmental organisation established in 1926. The Working Group on the UNIDROIT Principles was found in 1980 and consisted of independent legal scholars of all major legal systems of the world. The UNIDROIT Principles are not binding law. Most legal writers agree that they can be characterised as a restatement of the law of international commercial contracts2 and despite the controversial issue about the very existence, scope and content of a lex mercatoria - the possibility of applying supranational law to international legal relationships- most authors agree that it exists and that the UNIDROIT Principles are a significant part of it3. The object of this paper is to examine the UNIDROIT Principles' approach to hardship laid down in Chapter 6, Section 2 and to compare it with its equivalent provision in the German Civil Code (Bürgerliches Gesetzbuch, hereinafter BGB), § 3134. For this purpose it is firstly necessary to define the term "hardship". Thereafter I will consider the respective provisions in detail and highlight differences and similarities.
Download or read book Force Majeure and Hardship Under General Contract Principles written by Christoph Brunner and published by Kluwer Law International B.V.. This book was released on 2009-01-01 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lawyers involved in international commercial transactions know well that unforeseen events affecting the performance of a party often arise. Not surprisingly, exemptions for non-performance are dealt with in a significant number of arbitral awards. This very useful book thoroughly analyzes contemporary approaches, particularly as manifested in case law, to the scope and content of the principles of exemption for non-performance which are commonly referred to as 'force majeure' and 'hardship.' The author shows that the 'general principles of law' approach addresses this concern most effectively. Generally accepted and understood by the business world at large, this approach encompasses principles of international commercial contracts derived from a variety of legal systems. It's most important 'restatements' are found in the 1980 United Nations Convention on Contracts for the International Sale of Goods (CISG) and the UNIDROIT Principles of International Commercial Contracts (UPICC). Establishing specific standards and "case groups" for the exemptions under review, the analysis treats such recurring elements as the following: contractual risk allocations; unforeseeability of an impediment; impediments beyond the typical sphere of risk and control of the obligor; responsibility for third parties (subcontractors, suppliers); legal impediments (acts of public authority) and effect of mandatory rules; involvement of states or state enterprises; interpretation of force majeure and hardship clauses; hardship threshold test; frustration of purpose; irreconcilable differences; comparison with exemptions under domestic legal systems (impossibility of performance, frustration of contract, impracticability) The book is a major contribution to the development of the use of general principles of law in international commercial arbitration. It may be used as a comprehensive commentary on the force majeure and hardship provisions of the UPICC, as well as on Art. 79 of the CISG. In addition, as an insightful investigation into the fundamental question of the limits of the principle of sanctity of contracts, this book is sure to capture the attention of business lawyers and interested academics everywhere.
Download or read book Equilibrium in International Commercial Contracts written by Ahmet Cemil Yıldırım and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 20th century has witnessed many wars, natural disasters, political and financial crises, the spread of information and communication technologies, and the expansion of global trade. These political, economical, and social events had some effect on legal systems, both in national and international levels. As these events altered the equilibrium of many contracts, legal institutions that regard the restoration of the equilibrium of reciprocal contractual undertakings were developed in the last century, such as lesion, unconscionability, unfairness, gabin, eccessiva onerosita sopravvenuta, imprevision, Wegfall der Geschafts-grundlage, i'lem temelinin cokmesi, and hardship. This book examines these institutions in the context of national, international, and transnational laws from a comparative point of view. It illustrates how the legal remedies are applied in periods of political and financial crises in the context of various legal systems. The book is the most complete study of the UNIDROIT Principles' provisions on gross disparity and hardship that also include the relevant arbitral case law.
Download or read book An International Restatement of Contract Law The UNIDROIT Principles of International Commercial Contracts written by Michael Joachim Bonell and published by Martinus Nijhoff Publishers. This book was released on 2009-03-27 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Unidroit Principles of International Contracts, first published in 1994, have met with extraordinary success in the legal and business community worldwide. Prepared by a group of eminent experts from all major legal systems of the world, they provide a comprehensive set of rules for international commercial contracts. This new edition of An International Restatement of Contract Law is the first comprehensive introduction to the Unidroit Principles 2004. In addition, it provides an extensive survey and analysis of the actual use of the Unidroit Principles in practice with special emphasis on the different ways in which they have been interpreted and applied by the courts and arbitral tribunals in the hundred or so cases reported worldwide. The book also contains the full text of the Preamble and the 180 articles of the Unidroit Principles 2004 in Chinese, English, French, German, Italian and Russian as well as the 1994 edition in Spanish.
Download or read book Hardship and Its Impact on Contractual Obligations written by Joseph M. Perillo and published by . This book was released on 1996 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Transnational Commercial Law written by Maren Heidemann and published by Bloomsbury Publishing. This book was released on 2018-11-14 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transnational Commercial Law is a textbook that deals predominantly with substantive legal contract rules that apply across borders and are designed to govern cross-border business transactions. This is an emerging field of research, teaching and practical interest in international trade and commercial law, requiring reference to multiple areas of law, including both private and public international law, the law of specific commercial transactions and arbitration. For the first time Transnational Commercial Law combines all these relevant issues in one book, and provides a basis for further study as well as detailed, cutting edge academic analyses. It provides a compact yet accessible guide to the most important cornerstones of this evolving legal discipline. Transnational Commercial Law is aimed primarily for use on LLM courses and master's programmes in commercial law. Students are presented with the actual contractual rules in the wider context of the general legal framework, and situates it within the theoretical debate, providing a truly international perspective on transnational commercial law in a globalised world.
Download or read book Good Faith in Long Term Relational Supply Contracts in the Context of Hardship from A Comparative Perspective written by Peng Guo and published by Springer Nature. This book was released on 2021-11-09 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides fair and acceptable solutions to hardship issues in long-term relational supply contracts. This book uses an approach to strike a balance between the traditional approach underlying classical contract law which emphasises the almost absolute prevalence of the principle of pacta sunt servanda and a flexible approach that is based on the principle of clausula rebus sic stantibus. This book argues for an emerging principle of pacta sunt servanda bona fide on the basis of the relational contract theory. Additionally, this book demonstrates how good faith can serve as a foundation for imposing a duty to renegotiate on the parties. The aim of this book is rather to propose how relational contract theory can be applied to the analysis of specific legal rules in general. Lastly, this boos highlights how the duty to renegotiate and the power to adapt a contract can be further developed upon the occurrence of hardship, based on good faith and the relational nature and characteristics of a long-term relational supply contract. This book explores and enriches the existing research on relational contract theory concentrates primarily on its application in domestic contract laws, particularly in the regulation of long-term contracts in American contract law. As an outcome this book provides a more feasible and satisfactory approach for courts or arbitral tribunals to undertake when facing hardship issues in international contract disputes. Overall, hardship themes, long-term relational supply contracts and good faith are examined extensively.
Download or read book Transnational Commercial Law written by Royston Miles Goode and published by Oxford University Press, USA. This book was released on 2007-06-21 with total page 836 pages. Available in PDF, EPUB and Kindle. Book excerpt: This companion to 'Transnational Commercial Law - Text, Cases and Materials' contains up-to-date primary materials for students without linking commentary.
Download or read book Drafting and Negotiating International Commercial Contracts written by Fabio Bortolotti and published by Kluwer Law International. This book was released on 2009-02-18 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drafting an international contract can be a risky business. Yet with the increasing globalization of markets, these cross-border contracts are becoming a common practice for most traders, as well as for the lawyers assisting them. At the same time, international contracts remain a difficult and mysterious subject for business people as well as their lawyers. In his new book, Drafting and Negotiating International Commercial Contracts, Professor Fabio Bortolotti, a world-renowned expert on contract law, clarifies the issues surrounding these contracts and provides solutions to the thorny problems they raise: choice of the applicable law choice of jurisdiction international arbitration the use of more international drafting techniques hardship, force majeure and liquidated damages As an added feature, this volume provides insights into the basic requirements of a well-drafted contract and analyzes in depth the negotiating process. It concludes with incisive commentary on the model contracts developed by the International Chamber of Commerce. Lawyers and other legal professionals will find in these pages the tools they need to ensure their contracts meet the requirements of a globalized world.
Download or read book Drafting International Contracts written by Marcel Fontaine and published by BRILL. This book was released on 2015-03-31 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drafting International Contracts is an essential resource for anyone working in international business. It features the latest trends, fostering an understanding of how international contracts are drafted in practice.
Download or read book Renegotiating Shipping Contracts and Contractual Remedies in Times of Economic Hardship written by Jason Chuah and published by . This book was released on 2017 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no doubt that the economic crisis has led to an increased number of shipping and trade cases before the courts which raise the issue of economic hardship as an excuse for non-performance of the contract. As a legal concept, even in western legal systems, the cultural and normative differences pose a serious challenge for judicial and arbitral tribunals to find the right solution. The two extremes are either that hardship does not excuse performance or that it requires the contract to be modified, either judicially or by the parties. This article highlights some of these differences between the legal systems and emphasises that commercial people can and should be trusted to find solutions to the disruptive effects to contractual relations. However, commercial arrangements or solutions are only as successful as the legal system on which they are founded. This article thus aims to study the developments in European commercial law thinking which might be said to support or hinder commercial creativity and innovation. From an English law point of view, it will be demonstrated that these developments could not be said to be doctrinal developments per se, but merely a more pragmatic, as consistent with the heritage of the common law, application of the current doctrinal rules. The doctrinal challenges however could impede these pragmatic solutions as would be argued. Shipping contracts provide a useful backdrop because of its globalised and transnational nature. Of course, shipping contracts are often seen as a pure version of contracts given the presumed equal bargaining positions of both parties.
Download or read book How to Draft and Negotiate International Commercial Law Contracts written by Stefan Ratcliffe and published by Diana. This book was released on 2020-04-29 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In International Commercial Law Contracts: Business Law and the Regulation, Professor Stefan Ratcliffe, a world-renowned expert on contract law, clarifies the issues surrounding these contracts and provides solutions to the thorny problems they raise. Drafting and Negotiating International Commerical Contracts addresses the major problems which can occur when drafting an international contracts e.g.: -choice of the applicable law -choice of jurisdiction -international arbitration -the use of more international drafting techniques -hardship -force majeure -liquidated damages and more
Download or read book Transnational Commercial Law written by Royston Miles Goode and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Adaptation of Long Term Gas Sale Agreements by Arbitrators written by Pietro Ferrario and published by Kluwer Law International B.V.. This book was released on 2017-04-15 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: International commercial gas sale agreements are often characterised by a duration of twenty years or more. Consequently, when unforeseen events alter market conditions the contractual equilibrium originally found by the parties is disrupted, giving rise to the necessity to renegotiate and adapt the agreement. If negotiation fails, the parties in most cases submit the matter to arbitration. This comprehensive analysis of what can happen under such circumstances proceeds from an in-depth consideration of the power of arbitrators to intervene on the agreement in the light of arbitrability and procedural law. The author fully explains the complex special nature of gas pricing and contract clauses, and takes into account such features as the following, especially in the wake of the 2009 crisis as it affected the gas sector: - take or pay clauses; - mechanisms for gas price calculation; - price review and price re-opener clauses; - hardship provisions; - problems arising from the absence of a specific clause providing for adaptation/adjustment; - effect on contracts of the emergence and development of spot or traded gas markets; and - trend toward introducing spot-market elements into an oil-indexed price formula. The analysis draws on interviews with lawyers and arbitrators who have been involved in recent proceedings regarding gas sale contract adaptations, and also considers court decisions issued in setting aside or enforcing arbitration awards handed down in energy disputes. A central discussion throughout this book is the possible responses to the question of whether it is possible to determine a principle of law justifying the arbitrator’s power to intervene in contract adaptation. All professionals involved in the production, wholesaling, or distribution of gas will find this book indispensable. It will also be of special value to practitioners, policymakers, and regulators in the fields of energy law and environmental law.
Download or read book Contractual Renegotiations and International Investment Arbitration written by Aikaterini Florou and published by BRILL. This book was released on 2020-03-02 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Contractual Renegotiations and International Investment Arbitration, Aikaterini Florou explores the complex phenomenon of the renegotiation of investor-state contracts. The author reconstructs the relationship between those contracts and the overarching investment treaties using an original interpretative methodology based on transaction cost economics and relational contract theory.
