“The sanctity of contracts, a guiding principle of contract law in civil law systems, requires that all contracting parties be expected to meet their contractual obligations, thereby ensuring efficacy and efficiency of private ordering. In extraordinary circumstances, however, legal systems provide for mechanisms that may excuse contractual performance or lead to adaption or termination of contractual obligations. Since the coronavirus pandemic, these mechanisms have clearly gained traction …” (more)
[Valentin Jentsch, Oxford Business Law Blog, 20 September]
First posted 2021-09-20 14:00:07
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