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The UNIDROIT Principles - An Ongoing Project

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Chapter Summary

As to &t;unwinding of failed contracts&t;, UNIDROIT Principles is definitely the most widely supported topic among the experts consulted. At present the UNIDROIT Principles contain only a few and not always entirely consistent provisions dealing with restitution in case of avoidance of contracts for defects in consent and of termination for breach. The importance of the topic of &t;plurality of debtors and of creditors&t; derives from the fact that international commercial contracts quite frequently involve more than one party on either side, with the consequence that there are several obligors and/or obligees with respect to the performance(s) to be rendered. It is equally important to promote and monitor the use of the Principles in practice in order to see whether in their present form they actually meet the needs of international trade today or whether they require some adjustment as to form or substance.

Keywords: international commercial contracts; international trade; UNIDROIT Principles



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