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Principles of International Commercial Contracts, 1994 - UNIDROIT

UNIDROIT

copy @ Lex Mercatoria

*{ UNIDROIT Principles of International Commercial Contracts 1994 }*
"...The objective of the UNIDROIT Principles is to establish a balanced set of rules designed for use throughout the world irrespective of the legal traditions and the economic and political conditions of the countries in which they are to be applied...
...
In offering the UNIDROIT Principles to the international legal and business communities, the Governing Council is fully conscious of the fact that the Principles, which do not involve the endorsement of Governments, are not a binding instrument and that in consequence their acceptance will depend upon their persuasive authority. There are a number of significant ways in which the UNIDROIT Principles may find practical application, the most important of which are amply explained in the Preamble. ..."
Extract from the { Introduction of the Governing Council of UNIDROIT }../Unidroit.Contract.Principles.Note.1994/doc.html, Rome, 1994
Reproduced from the UNIDROIT Principles of International Commercial Contracts, published by the International Institute for the Unification of Private Law (UNIDROIT), Rome, Italy, Copyright UNIDROIT 1994, by permission of UNIDROIT. Readers are reminded that the official version of the UNIDROIT Principles of International Commercial Contracts also includes the Commentary thereto. The integral edition of the English, French, German, Italian and Spanish versions may be ordered directly from UNIDROIT Publications, Via Panisperna 28, 00184 Italy (fax +(39-06) 69 94 13 94). The English version may also be ordered from Transnational Publishers.
{ The Working Group }../Unidroit.Contract.Principles.Contributors.1994/doc.html for the formulation of the UNIDROIT Contract was Chaired by Professor Michael Joachim Bonell.
Reproduced with the kind permission of UNIDROIT. For further information on the UNIDROIT Contract Principles visit { http://www.unidroit.org/unidroit/english/principles/pr-main.htm }http://www.unidroit.org/english/principles/pr-main.htm or contact Paula Howarth - { unidroit.rome@unidroit.org }mailto:unidroit.rome@unidroit.org.

Principles of International Commercial Contracts, 1994 - UNIDROIT

Preamble - Purpose of the Principles

Chapter 1 - General Provisions

Article 1.1 - Freedom of Contract

Article 1.2 - No Form Required

Article 1.3 - Binding Character of Contract

Article 1.4 - Mandatory Rules

Article 1.5 - Exclusion or Modification by the Parties

Article 1.6 - Interpretation and supplementation of the Principles

Article 1.7 - Good Faith and Fair Dealing

Article 1.8 - Usages and Practices

Article 1.9 - Notice

Article 1.10 - Definitions

Chapter 2 - Formation

Article 2.1 - Manner of Formation

Article 2.2 - Definition of Offer

Article 2.3 - Withdrawal of Offer

Article 2.4 - Revocation of Offer

Article 2.5 - Rejection of Offer

Article 2.6 - Mode of Acceptance

Article 2.7 - Time of Acceptance

Article 2.8 - Acceptance Within a Fixed Period of Time

Article 2.9 - Late Acceptance. Delay in Transmission

Article 2.10 - Withdrawal of Acceptance

Article 2.11 - Modified Acceptance

Article 2.12 - Writings in Confirmation

Article 2.13 - Conclusion of Contract Dependent on Agreement on Specific Matters or in a Specific Form

Article 2.14 - Contract with Terms Deliberately Left Open

Article 2.15 - Negotiations in Bad Faith

Article 2.16 - Duty of Confidentiality

Article 2.17 - Merger Clause

Article 2.18 - Written Modification Clause

Article 2.19 - Contracting Under Standard Terms

Article 2.20 - Surprising Terms

Article 2.21 - Conflict Between Standard Terms and Non-Standard Terms

Article 2.22 - Battle of Forms

Chapter 3 - Validity

Article 3.1 - Matters Not Covered

Article 3.2 - Validity of Mere Agreement

Article 3.3 - Initial Impossibility

Article 3.4 - Definition of Mistake

Article 3.5 - Relevant Mistake

Article 3.6 - Error in Expression or Transmission

Article 3.7 - Remedies for Non-Performance

Article 3.8 - Fraud

Article 3.9 - Threat

Article 3.10 - Gross Disparity

Article 3.11 - Third Persons

Article 3.12 - Confirmation

Article 3.13 - Loss of Right to Avoid

Article 3.14 - Notice of Avoidance

Article 3.15 - Time Limits

Article 3.16 - Partial Avoidance

Article 3.17 - Retroactive Effect of Avoidance

Article 3.18 - Damages

Article 3.19 - Mandatory Character of the Provision

Article 3.20 - Unilateral Declarations

Chapter 4 - Interpretation

Article 4.1 - Intention of the Parties

Article 4.2 - Interpretation of Statements and Other Conduct

Article 4.3 - Relevant Circumstances

Article 4.4 - Reference to Contract or Statement as a Whole

Article 4.5 - All Terms to be Given Effect

Article 4.6 - Contra Proferentem Rule

Article 4.7 - Linguistic Discrepancies

Article 4.8 - Supplying an Omitted Term

Chapter 5 - Content

Article 5.1 - Express and Implied Obligations

Article 5.2 - Implied Obligations

Article 5.3 - Co-operation between the Parties

Article 5.4 - Duty to Achieve a Specific Result. Duty of Best Efforts

Article 5.5 - Determination of Kind of Duty Involved

Article 5.6 - Determination of Quality of Performance

Article 5.7 - Price Determination

Article 5.8 - Contract for an Indefinite Period

Chapter 6 - Performance

Section 1 - Performance in General

Article 6.1.1 - Time of Performance

Article 6.1.2 - Performance at one Time or in Instalments

Article 6.1.3 - Partial Performance

Article 6.1.4 - Order of Performance

Article 6.1.5 - Earlier Performance

Article 6.1.6 - Place of Performance

Article 6.1.7 - Payment by Cheque or other Instrument

Article 6.1.8 - Payment by Funds Transfer

Article 6.1.9 - Currency of Payment

Article 6.1.10 - Currency Not Expressed

Article 6.1.11 - Costs of Performance

Article 6.1.12 - Imputation of Payments

Article 6.1.13 - Imputation of Non-Monetary Obligations

Article 6.1.14 - Application for Public Permission

Article 6.1.15 - Procedure in Applying for Permission

Article 6.1.16 - Permission Neither Granted Nor Refused

Article 6.1.17 - Permission Refused

Section 2 - Hardship

Article 6.2.1 - Contract to be Observed

Article 6.2.2 - Definition of Hardship

Article 6.2.3 - Effects of Hardship

Chapter 7 - Non-Performance

Section 1 - Non-Performance in General

Article 7.1.1 - Non-Performance Defined

Article 7.1.2 - Interference by the Other Party

Article 7.1.3 - Withholding Performance

Article 7.1.4 - Cure by Non-Performing Party

Article 7.1.5 - Additional Period for Performance

Article 7.1.6 - Exemption Clauses

Article 7.1.7 - Force Majeure

Section 2 - Right to Performance

Article 7.2.1 - Performance of monetary Obligation

Article 7.2.2 - Performance of Non-Monetary Obligation

Article 7.2.3 - Repair and Replacement of Defective Performance

Article 7.2.4 - Judicial Penalty

Article 7.2.5 - Change of Remedy

Section 3 - Termination

Article 7.3.1 - Right to Terminate the Contract

Article 7.3.2 - Notice of Termination

Article 7.3.3 - Anticipatory Non-Performance

Article 7.3.4 - Adequate Assurance of Due Performance

Article 7.3.5 - Effects of Termination in General

Article 7.3.6 - Restitution

Section 4 - Damages

Article 7.4.1 - Right to Damages

Article 7.4.2 - Full Compensation

Article 7.4.3 - Certainty of Harm

Article 7.4.4 - Foreseeability of Harm

Article 7.4.5 - Proof of Harm in case of Replacement Transaction

Article 7.4.6 - Proof of Harm by Current Price

Article 7.4.7 - Harm Due in Part to Aggrieved Party

Article 7.4.8 - Mitigation of Harm

Article 7.4.9 - Interest for Failure to Pay Money

Article 7.4.10 - Interest on Damages

Article 7.4.11 - Manner of Monetary Redress

Article 7.4.12 - Currency in which to Access Damages

Article 7.4.13 - Agreed Payment for Non-Performance

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