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The Transnational Law Of Contracts: What It Can And What It Cannot Achieve

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Chapter Summary

This chapter verifies the effectiveness of the transnational commercial law, a much discussed alternative to the traditional system of subjecting international contracts to a national law chosen by the parties or selected on the basis of conflict rules. It also verifies that to what extent the transnational commercial law may be considered effective. Effectiveness is examined from the perspective of the transnational law's ability to achieve harmonisation of specific sectors, of different legal traditions regarding the general contract law and of different areas of the law. The transnational law's ability to replace the governing law in full is analysed. The analysis shows that specific sectors of the law may effectively be harmonised by the transnational law, but the other mentioned tasks are more difficult to achieve.

Keywords: international contracts; transnational law

10.1163/ej.9789004191433.i-591.18
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