Non-performance and Remedies Under International Contract Law Principles and Indian Contract Law: A Comparative Survey of the UNIDROIT Principles of International Commercial Contracts, the Principles of European Contract Law, and Indian Statutory Contract Law

Front Cover
Peter Lang, 2010 - Law - 280 pages
The survey compares the rules on contractual non-performance and remedies under the UNIDROIT Principles of International Commercial Contracts, the Principles of European Contract Law, and Indian statutory contract law (including the Indian Contract Act, 1872). Given that most Indian statutes were derived from English law and may therefore be viewed as «codified common law», this comparison may contribute to the question of whether, especially in view of contract law harmonisation in the EU, the civil-law and common-law traditions could be merged in a common code. Moreover, it may help identify legal differences that are relevant to doing business between India and Europe. The general conclusion of the survey is that the Principles and Indian statutory contract law share a close proximity especially because many of their provisions on non-performance and remedies appear to be derived from the same concepts and also provide for very similar consequences.
 

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Contents

Acknowledgements
13
Overview of the UNIDROIT and European Principles
21
Methodology authority substance and applicability
29
Alternatives worth coexisting or competing variations
44
Specific Relief Act 1963
51
Other party being responsible for the nonperformance
59
Right to withhold performance
67
Right to cure
76
Comparative analysis
164
Restitution
173
B Indian statutory law
180
Damages
193
Certainty of harm
213
Proof of harm in case of replacement transaction and by current price
221
Mitigation of harm
228
B Indian statutory law
235

Exemption clauses
84
Overview of the systems of remedies
101
Specific performance
107
Change of remedy
133
Termination of contracts
139
Manner of monetary redress
242
Reduction of price
253
Indian statutory law
254
Reduction of price
269
Copyright

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About the author (2010)

Lars Meyer was born in 1978. An attorney qualified in Germany, he studied law at the University of Hamburg, the Hague Academy of International Law and the University of Denver. Research for this book was conducted, inter alia, at the Max-Planck Institute for Comparative and International Private Law in Hamburg and during a visiting research fellowship at Columbia Law School in New York City.

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