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The Effects of Financial Crises on the Binding Force of Contracts - Renegotiation, Rescission or Revision

The Effects of Financial Crises on the Binding Force of Contracts - Renegotiation, Rescission or Revision

Author: Basak Basoglu
Publisher: Springer-Verlag
ISBN: 9783319272542
Published In: March 2016
Format: Hardback
Jurisdiction: Switzerland ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

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This book is about one of the most controversial dilemmas of contract law: whether or not the unexpected change of circumstances due to the effects of financial crises may under certain conditions be taken into account. Growing interconnectedness of global economies facilitates the spread of the effects of the financial crises. Financial crises cause severe difficulties for persons to fulfill their contractual obligations.

During the financial crises, performance of contractual obligations may become excessively onerous or may cause an excessive loss for one of the contracting parties and consequently destroy the contractual equilibrium and legitimate the governmental interventions. Uncomfortable economic climate leads to one of the most controversial dilemmas of the contract law: whether the binding force of the contract is absolute or not. In other words, unstable economic circumstances impose the need to devote special attention to review and perhaps to narrow the binding nature of a contract. Principle of good faith and fair dealing motivate a variety of theoretical bases in order to overcome the legal consequences of financial crises.

In this book, all these theoretical bases are analyzed with special focus on the available remedies, namely renegotiation, rescission or revision and the circumstances which enables the revocation of these remedies. The book collects the 19 national reports and the general report originally presented in the session regarding the Effects of Financial Crises on the Binding Force of Contracts: Renegotiation, Rescission or Revision during the XIXth congress of the International Academy of Comparative Law, held in Vienna, July 2014.

Part I General Report.

General Report on the Effects of Financial Crises on the Binding Force of Contracts: Renegotiation, Rescission or Revision

Rona Serozan.

Part II National Reports.

From Crisis to Crisis: Weakness of Contracts in Argentina

Julio Cesar Rivera.

Keeping the Balance: The Effects of Financial Crises on Contracts under Brazilian Law

Anderson Schreiber.

Les effets exerces par les crises financieres sur la force obligatoire des contrats: certitudes et incertitudes du droit quebecois en matiere d'imprevision

Elise Charpentier and Nathalie Vezina.

Can Financial Crisis Lead to the Application of the Institute of Changed Circumstances under Croatian Law?

Maja Bukovac Puvaca, Gabrijela Mihelcic and Iva Tuhtan Grgic.

Elimination of the Impacts of Financial Crisis on Legal Relationships according to Czech Private Law

Marketa Selucka.

Financial Crises and Danish Contract Law: No Room for Hardship

Mads Bryde Andersen and Joseph Lookofsky.

Crises financieres et contrats: le droit francais refuse la revision d'un contrat devenu desequilibre

Remy Cabrillac.

Financial Turmoil as a Change of Circumstances under Greek Contract Law

Nikolaos A. Davrados.

10.