Unexpected Circumstances in European Contract Law

Nonfiction, Reference & Language, Law, Comparative, Contracts
Cover of the book Unexpected Circumstances in European Contract Law by , Cambridge University Press
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Author: ISBN: 9781139036351
Publisher: Cambridge University Press Publication: March 3, 2011
Imprint: Cambridge University Press Language: English
Author:
ISBN: 9781139036351
Publisher: Cambridge University Press
Publication: March 3, 2011
Imprint: Cambridge University Press
Language: English

The recent financial crisis has questioned whether existing contracts may be adapted, terminated or renegotiated as a result of unexpected circumstances. The question is not a new one. In medieval times the notion of clausula rebus sic stantibus was developed to cope with such situations, and Germany introduced the theory of Wegfall der Geschäftsgrundlage. In England, the Coronation cases provided one possible answer. This comparative study explores the possibility of classifying jurisdictions as 'open' or 'closed' in this regard.

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The recent financial crisis has questioned whether existing contracts may be adapted, terminated or renegotiated as a result of unexpected circumstances. The question is not a new one. In medieval times the notion of clausula rebus sic stantibus was developed to cope with such situations, and Germany introduced the theory of Wegfall der Geschäftsgrundlage. In England, the Coronation cases provided one possible answer. This comparative study explores the possibility of classifying jurisdictions as 'open' or 'closed' in this regard.

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