All entries for Thursday 14 October 2010
October 14, 2010
For my first blog entry, even though many interesting points could be dealt with, my focus is going to lay on the challenges that contract law faces in the wake of growing international trade relations between countries and intensifying commercial relations amongst its citizens.
My comment will deal with facts and opinions taken from point 1.4 of Chapter 1, which is in my opinion one of the big portions of contract law that remains to be fundamentally revised due to the almost complete absence of coherent and common rules. This fact is stressed by the nonexistence of, for example, an European Civil code which could create a common framework that would facilitate business and commercial transactions.
So far, I limited myself to abstract ideas and the lack of a cohesive European contractual structure as laws still differ sometimes substantially from country to country as shows for example the existence of the German concept of “Willenserklärung” concerning the fulfillment contractual obligations in property law questions, or the British pre-contractual exigence of “Consideration” which remains relatively unknown within Continental Europe.
All these differences add up to the conclusion that something needs to be done; and although recent attempts such as the Rome I Regulation which came into effect in August 2008, real, more fundamental changes are required to ease business and commercial activities.
Especially since the internet created a lot of unprecedented situations where borders slowly disappear digitally, but remain existent in the real world, and this can lead to a lot of cross-border conflict situations that could hinder trade.
This particular area of interest, how private international law issues create a need for further harmonization, will be the main focus of my future blog entries to come, I will always try to address this issue and its various and varied solutions from different angles, so please stay tuned for more.