Sanctity of Contracts Revisited:A Study in the Theory and Practice of International Commercial Transactions

Sanctity of Contracts Revisited:A Study in the Theory and Practice of International Commercial Transactions

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Description

This work contributes to the theory and practice of long-term international commercial transactions ("LTICTs"). Such transactions are becoming more of the norm than the exception in the sphere of international trade, since they are the most appropriate tool for meeting the demands of an ever-increasing sophistication in prevailing technology and financial techniques. They mobilize financial, operational and manpower capacities which are beyond the means of any single enterprise. It is this enormous increase in the use of LTICTs that makes a study of their conceptual basis one of significant importance and interest. This work explores the conceptual basis of these contracts, and analyzes international arbitral practice involving LTICTs in pursuit of defining the nature and content of such transactions. This work should appeal to practitioners and theorists interested in arbitration, providing them with a coherent structure of the theory and practice relating to the performance of LTICTs.
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Product details

  • Hardback | 336 pages
  • 171.45 x 254 x 25.4mm | 733g
  • Dordrecht, Netherlands
  • English
  • 1994 ed.
  • 336 p.
  • 079233079X
  • 9780792330790

Table of contents

Part I: Competing Concepts of Contracts. II. The Classical Theory of Absolute Approach. III. The Modern Theory of Relational Contextual Contracts. IV. Summary. Part II: Complexity Related Issues: the Extra-Legal Context. II: Comparative Law Perspective. II. The Common Law Approach. III. The Continental Approach. IV. Summary. Part III: Pre-Contractual Circumstances: Prior Negotiations. II. The Secondary Recourse Approach. III. The Contextual Approach. IV. Summary. Part IV: Subsequence Conduct: de facto Modification. II. The Intended Purpose Approach. III. The Contextual Approach. IV. Summary. Part V: Para-Legal Norms. II. Trade Usage. III. Standard Conditions. IV. International Instruments. V. Summary. Conclusion. The Time Element: Information Changes and the Legal Context. Part VI: The Time Element and lex contractus. II. Lex contractus-Defined. III. Stabilization Clauses Defined. IV. Legal Effect of Stabilization Clauses. V. Summary. Part VII: Good Faith Duties. II. Good Faith-Behavioral Standard: Honesty in Fact v. Reasonableness. III. Good Faith Duties Defined. IV. Summary. Part VIII: Fair Dealing: Standards of Equitable Adjustment. I. The Duty to Negotiate. II. The Duty to Negotiate Defined. III. Revision. IV. Gap-Filling. V. Summary. Part IX: Fair Dealing: Standards of Equitable Adjustment. I. Rebus sic stantibus. II. Comparative Perspective. III. International Perspective. IV. Summary. Conclusion. General Conclusion: The Contractual Equilibrium Theory.
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