Unit 9- Functions, contents and choice of contract law Flashcards
What is party autonomy?
Contract law is based upon the assumption that parties are the best judges of their own interest
What does freedom of contract mean?
Everyone is free to contract or not to contract, to choose the person with whom to contract, and to determine the content and form of the contract, within the limits imposed by the legislation
Limits to freedom of contract
- May want to break morality
- One of the parties is not capable of assessing their own interest
What are B-to-B and B-to-C contracts
- B-to-B contracts: business to business contracts
- B-to-C contracts: govern the terms and conditions of the sale of goods and services from the business to the consumer
What is uniform contract law
Set of legal rules and principles that aim to provide uniformity and harmonisation in the regulation of contracts across different jurisdictions.
CISG is one of the most successful instances of uniform law
Characteristic of EU (consumer contract law)
European contract law is fragmented - directives only deal with special contracts and only with certain aspects
What is national contract law
Body of laws and legal principles that govern countries within a specified country or nation
One of the fields where more commonalities among the world’s jurisdictions can be found
What is the choice of law clause in a contract?
A term of a contract by which the parties specify:
- Relevant jurisdiction: which court shall have jurisdiction
- Applicable law: which law is applicable to their contractual relation
What is the choice of court agreement in a contract?
Whether parties decide to go before a national court or an arbitral court in case of disagreement
What is the question of proper law?
Involves selecting the legal system or body of laws that will govern the interpretation, validity and enforceability of the contract
What is soft law?
Non national law, artificially made, non binding
Used to shape behaviour, guide actions and promote cooperation
What is hard law
Hard law instruments have the force of law and are generally considered mandatory obligations that must be followed by the parties subject to them.
What are the three best knows sets of soft law rules in contract law?
- Unidroit Principles of International commercial contracts (PICC)
- Principles of European contract law (PECL)
- Draft Common Frame of Reference (DCFR)
What is PICC in contract law?
Covers the most important topics of contract law
What is PECL in contract law?
Set of model rules drawn up by leading contract law academic in Europe
Are based on the concept of a uniform European contract law system
