This text provides a comprehensive guide to the principles of European contract law. They have been drawn up by an independent body of experts from each Member State of the EU, under a project supported by the European Commission and many other organizations. The principles are stated in the form of articles, with a detailed commentary explaining the purpose and operation of each article and its relation to the remainder. Each article also has extensive comparative notes surveying the national laws and other international provisions on the topic. "The Principles of European Contract Law Parts I & II" cover the core rules of contract: formation, authority of agents, validity, interpretation, contents, performance, non-performance and remedies. The articles previously published in Part I (1995) are included in a revised and re-ordered form. Throughout Europe there is great interest in developing a common European legal culture. The European Parliament has twice called for the creation of a European Civil Code. The principles of European contract law are essential steps in these projects.

This is the third and last part of the Principles of European Contract Law prepared by the Commission of European Contract Law under the chairmanship of Professor Ole Lando. Parts I and II were published in 2000 and have attracted great interest and acclaim and a growing volume of secondary literature. This present volume follows the same pattern - a set of proposed Articles drawn up by the Commission, followed by comments and national notes contining a wealth of comparative law. The subjects dealt with in Part III are: plurality of debtors and creditors, assignment, substitution of new debtor and transfer of contract, set-off, prescription, illegality, conditions and capitalization of interest. No self-respecting contract lawyer in Europe can afford to ignore the "Lando Principles." They are not only a useful and convenient source of information about current laws in the countries of the European Union but also a possible blueprint for the contract part of a future European civil code. They are a touchstone against which any discussion of contract law can be tested. The book will be particularly useful to those engaged in arbitrations with and international element, to those concerned with comparative law, and to those interested in the development of legal policy on contract law at national, European or international level.