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Force Majeure and Hardship under General Contract Principles - Exemption for Non-Performance in International Arbitration (Hardcover)
Loot Price: R7,313
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Force Majeure and Hardship under General Contract Principles - Exemption for Non-Performance in International Arbitration (Hardcover)
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Lawyers involved in international commercial transactions know well
that that unforeseen events affecting the performance of a party
often arise. Not surprisingly, exemptions for non-performance are
dealt with in a significant number of arbitral awards. This very
useful book thoroughly analyzes contemporary approaches,
particularly as manifested in case law, to the scope and content of
the principles of exemption for non-performance which are commonly
referred to as A force majeure A| and A hardship. A| The author
shows that the A general principles of law A| approach addresses
this concern most effectively. Generally accepted and understood by
the business world at large, this approach encompasses principles
of international commercial contracts derived from a variety of
legal codes. Its most important A restatements A| are found in the
1980 United Nations Convention on Contracts for the International
Sale of Goods (CISG) and two A soft law A| codifications of
international commercial contract law: the UNIDROIT Principles of
International Commercial Contracts and the European Principles of
Contract Law (PECL).Establishing specific standards and A case
groups A| for the exemptions under review, the analysis treats such
recurring elements and claims as the following:A { impossibility of
performance;A { frustration of contract;A { impracticability;A {
interference by the other party;A { contractual risk allocations;A
{ unforeseeability of an impediment;A { third party
responsibility;A { effect of mandatory rules;A { excluded rights;A
{ threshold tests; andA { irreconcilable differences. The book is a
major contribution to the development of the use of general
principles of law in international commercial arbitration. In
addition, as an insightful investigation into the fundamental
question of the borderlines of the principle of sanctity of
contracts, this book is sure to capture the attention of business
lawyers and interested academics everywhere.
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