Changed Contract Circumstances - Chapter 21 - Remedies in International Sales

Author(s):

Chengwei Liu

Page Count:

10 pages

Media Description:

1 PDF from "Remedies in International Sales"

Published:

June, 2007

Author Detail:

About the Author:
Chengwei Liu has practiced as a PRC lawyer in international trade and arbitration, FDI, M & A and IPO since his graduation from Renmin University of China. He has contributed to a CISG comparative review book published by Cambridge University Press and has authored over ten journal articles that have appeared in the Pace Review of the CISG, China Law & Practice, etc.

About the Editor:
Marie Stefanini Newman is the Director of the Pace University School of Law Library and an Associate Professor of Law. She also serves as Database Manager of the Pace website devoted to the United Nations Convention on Contracts for the International Sale of Goods.

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Description:

Originally from Remedies in International Sales - Hardcover
Remedies in International Sales - PDF

Preview Page from Chapter 21

§21.1 Pacta sunt servanda: Cornerstone of Contract Law
A basic and it seems universally accepted principle of contract law is “pacta servanda sunt.” It reflects natural justice and economic requirements because it binds a person to its promises and protects the interests of the promisee. Since effective economic activity is not possible without reliable promises, the importance of this principle has to be underlined.
Pacta sunt servanda: The contract has to be respected. This sanctity of contract is, understandably, a paramount feature of the law of contract. As a matter of principle, parties must adhere to the terms of their contract. This explains, for instance, why specific performance ...

Table of Contents:

Section
§21.1 Pacta sunt servanda: Cornerstone of Contract Law
§21.2 Rebus sic stantibus: Doctrine underlying Changed Circumstances
§21.3 Rebus as an Exception to pacta