Unexpected Circumstances In European Contract Law (The Common Core Of European Private Law)

Unexpected Circumstances in European Contract Law (The Common Core of European Private Law)

The recent financial crisis has questioned whether existing contracts may be adapted, terminated or renegotiated as a result of unexpected circumstances. The question is not a new one. In medieval times the notion of clausula rebus sic stantibus was developed to cope with such situations, and Germany introduced the theory of Wegfall der Gesch?tsgrundlage. In England, the Coronation cases provided one possible answer. This comparative study explores the possibility of classifying jurisdictions as 'open' or 'closed' in this regard.Book DescriptionA comparative exploration of whether unexpected circumstances can 'open up' contracts.About the AuthorEwoud Hondius is Professor of European Private Law at Utrecht University, the Netherlands.Hans Christoph Grigoleit holds a chair in civil law, commercial law, corporate law and private law theory at Ludwig Maximilian University of Munich, Germany.