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UNIDROIT PRINCIPLES OF INTERNATIONAL COMMERCIAL CONTRACTS 2004

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 - Inconsistent Behaviour

Article 1.9 - Usages and practices

Article 1.10 - Notice

Article 1.11 - Definitions

Article 1.12 - Computation of time set by parties

Chapter 2 - Formation and Authority of Agents

Section 1 - Formation

Article 2.1.1 - Manner of formation

Article 2.1.2 - Definition of offer

Article 2.1.3 - Withdrawal of offer

Article 2.1.4 - Revocation of offer

Article 2.1.5 - Rejection of offer

Article 2.1.6 - Mode of acceptance

Article 2.1.7 - Time of acceptance

Article 2.1.8 - Acceptance within a fixed period of time

Article 2.1.9 - Late acceptance. Delay in transmission

Article 2.1.10 - Withdrawal of acceptance

Article 2.1.11 - Modified acceptance

Article 2.1.12 - Writings in confirmation

Article 2.1.13 - Conclusion of contract dependent on agreement on specific matters or in a particular form

Article 2.1.14 - Contract with terms deliberately left open

Article 2.1.15 - Negotiations in bad faith

Article 2.1.16 - Duty of confidentiality

Article 2.1.17 - Merger clauses

Article 2.1.18 - Modification in a particular form

Article 2.1.19 - Contracting under standard terms

Article 2.1.20 - Surprising terms

Article 2.1.21 - Conflict between standard terms and non­standard terms

Article 2.1.22 - Battle of forms

Section 2 - Authority of Agents

Article 2.2.1 - Scope of the Section

Article 2.2.2 - Establishment and scope of the authority of the agent

Article 2.2.3 - Agency disclosed

Article 2.2.4 - Agency undisclosed

Article 2.2.5 - Agent acting without or exceeding its authority

Article 2.2.6 - Liability of agent acting without or exceeding its authority

Article 2.2.7 - Conflict of interests

Article 2.2.8 - Sub­agency

Article 2.2.9 - Ratification

Article 2.2.10 - Termination of authority

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 non­performance

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 provisions

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 and Third Party Rights

Section 1 - Content

Article 5.1.1 - Express and implied obligations

Article 5.1.2 - Implied obligations

Article 5.1.3 - Co­operation between the parties

Article 5.1.4 - Duty to achieve a specific result. Duty of best efforts

Article 5.1.5 - Determination of kind of duty involved

Article 5.1.6 - Determination of quality of performance

Article 5.1.7 - Price determination

Article 5.1.8 - Contract for an indefinite period

Article 5.1.9 - Release by agreement

Section 2 - Third Party Rights

Article 5.2.1 - Contracts in favour of third parties

Article 5.2.2 - Third party identifiable

Article 5.2.3 - Exclusion and limitation clauses

Article 5.2.4 - Defences

Article 5.2.5 - Revocation

Article 5.2.6 - Renunciation

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 non­monetary 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 - Non­Performance

Section 1 - Non­Performance in general

Article 7.1.1 - Non­performance defined

Article 7.1.2 - Interference by the other party

Article 7.1.3 - Withholding performance

Article 7.1.4 - Cure by non­performing 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 non­monetary 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 non­performance

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 assess damages

Article 7.4.13 - Agreed payment for non­performance

Chapter 8 - Set­Off

Article 8.1 - Conditions of set­off

Article 8.2 - Foreign currency set­off

Article 8.3 - Set­off by notice

Article 8.4 - Content of notice

Article 8.5 - Effect of set­off

Chapter 9 - Assignment of Rights, Transfer of Obligations, Assignment of Contracts

Section 1 - Assignment of Rights

Article 9.1.1 - Definitions

Article 9.1.2 - Exclusions

Article 9.1.3 - Assignability of non­monetary rights

Article 9.1.4 - Partial assignment

Article 9.1.5 - Future rights

Article 9.1.6 - Rights assigned without individual specification

Article 9.1.7 - Agreement between assignor and assignee sufficient

Article 9.1.8 - Obligor's additional costs

Article 9.1.9 - Non­assignment clauses

Article 9.1.10 - Notice to the obligor

Article 9.1.11 - Successive assignments

Article 9.1.12 - Adequate proof of assignment

Article 9.1.13 - Defences and rights of set­off

Article 9.1.14 - Rights related to the right assigned

Article 9.1.15 - Undertakings of the assignor

Section 2 - Transfer of Obligations

Article 9.2.1 - Modes of transfer

Article 9.2.2 - Exclusion

Article 9.2.3 - Requirement of obligee's consent to transfer

Article 9.2.4 - Advance consent of obligee

Article 9.2.5 - Discharge of original obligor

Article 9.2.6 - Third party performance

Article 9.2.7 - Defences and rights of set­off

Article 9.2.8 - Rights related to the obligation transferred

Section 3 - Assignment of Contracts

Article 9.3.1 - Definitions

Article 9.3.2 - Exclusion

Article 9.3.3 - Requirement of consent of the other party

Article 9.3.4 - Advance consent of the other party

Article 9.3.5 - Discharge of the assignor

Article 9.3.6 - Defences and rights of set­off

Article 9.3.7 - Rights transferred with the contract

Chapter 10 - Limitation Periods

Article 10.1 - Scope of the Chapter

Article 10.2 - Limitation periods

Article 10.3 - Modification of limitation periods by the parties

Article 10.4 - New limitation period by acknowledgement

Article 10.5 - Suspension by judicial proceedings

Article 10.6 - Suspension by arbitral proceedings

Article 10.7 - Alternative dispute resolution

Article 10.8 - Suspension in case of force majeure, death or incapacity

Article 10.9 - The effects of expiration of limitation period

Article 10.10 - Right of set­off

Article 10.11 - Restitution

Endnotes

Endnotes

Metadata

SiSU Metadata, document information

Manifest

SiSU Manifest, alternative outputs etc.

Principles of International Commercial Contracts, 1994 - UNIDROIT

UNIDROIT

copy @ Lex Mercatoria

UNIDROIT PRINCIPLES OF INTERNATIONAL COMMERCIAL CONTRACTS 2004

Chapter 2 - Formation and Authority of Agents

Section 1 - Formation

Article 2.1.6 - Mode of acceptance

(1) A statement made by or other conduct of the offeree indicating assent to an offer is an acceptance. Silence or inactivity does not in itself amount to acceptance.

(2) An acceptance of an offer becomes effective when the indication of assent reaches the offeror.

(3) However, if, by virtue of the offer or as a result of practices which the parties have established between themselves or of usage, the offeree may indicate assent by performing an act without notice to the offeror, the acceptance is effective when the act is performed.


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