Good Faith in Long-Term Relational Supply Contracts in the Context of Hardship from A Comparative Perspective

This book offers fair and acceptable solutions to hardship issues in long-term relational supply contracts by balancing traditional contract law with a flexible approach based on clausula rebus sic stantibus. It proposes a new principle of pacta sunt servanda bona fide and demonstrates how good faith can serve as a foundation for imposing a duty to renegotiate. It also highlights how the duty to renegotiate and the power to adapt a contract can be further developed upon the occurrence of hardship, based on good faith and the relational nature and characteristics of a long-term relational supply contract. The book explores and enriches the existing research on relational contract theory, particularly in the regulation of long-term contracts in American contract law.

Format: Paperback / softback
Length: 184 pages
Publication date: 11 November 2022
Publisher: Springer Verlag, Singapore

This book offers fair and acceptable solutions to hardship issues in long-term relational supply contracts. It adopts an approach that balances the traditional principle of pacta sunt servanda with a flexible one based on the principle of clausula rebus sic stantibus. The book argues for the emergence of a new principle of pacta sunt servanda bona fide based on relational contract theory. It demonstrates how good faith can serve as a basis for imposing a duty to renegotiate on the parties. The book's aim is to propose how relational contract theory can be applied to the analysis of specific legal rules in general. It highlights how the duty to renegotiate and the power to adapt a contract can be further developed upon the occurrence of hardship, based on good faith and the relational nature and characteristics of a long-term relational supply contract. The book explores and enriches the existing research on relational contract theory, focusing primarily on its application in domestic contract laws, particularly in the regulation of long-term contracts in American contract law. As a result, the book provides a more feasible and satisfactory approach for courts or arbitral tribunals to undertake when facing hardship issues in international contract disputes. Overall, the book extensively examines hardship themes, long-term relational supply contracts, and good faith.

Weight: 320g
Dimension: 235 x 155 (mm)
ISBN-13: 9789811655159
Edition number: 1st ed. 2022