《SANCTITY OF CONTRACTS REVISITED A STUDY IN THE THEORY AND PRACTICE OF LONG-TERM INTERNATIONAL COMMER》

INTRODUCTION1

Chapter Ⅰ.Competing Concepts of Contracts3

Ⅱ.The Classical Theory or Absolute Approach3

A.The Pre-Industrialization Approach4

1.The Natural Law Theory4

2.The Social Contract Theory7

B.The Post-Industrialization Approach12

1.The Rise of Utilitarianism and the Market Economy14

2.The Foundation of the Risk Allocation Analysis17

Ⅲ.The Modern Theory of Relational Contextual Contracts19

A.Foundations and Characteristics of Contracts20

B.Functions of Contract Law24

IV.Summary28

PART Ⅰ-COMPLEXITY RELATED ISSUES:THE EXTRA-LEGAL CONTEXT31

Chapter Ⅱ.Comparative Law Perspective35

Ⅱ.The Common Law Approach35

A.Trade Usage35

B.Prior Negotiations and Subsequent Conduct37

1.United Kingdom37

2.United States41

Ⅲ.The Continental Approach43

A.Prior Negotiations and Subsequent Conduct43

B.Trade Usage46

Ⅳ.Summary46

Chapter Ⅲ.Pre-Contractual Circumstances:Prior Negotiations47

Ⅱ.The Secondary Recourse Approach50

Ⅲ.The Contextual Approach54

A.Contractual Content-Defined55

B.Groups of Contracts58

Ⅳ.Summary64

Chapter IV.Subsequent Conduct:De Facto Modification67

Ⅱ.The Intended Purpose Approach68

Ⅲ.The Contextual Approach71

Ⅳ.Summary80

Chapter Ⅴ.Para-Legal Norms83

Ⅱ.Trade Usage84

A.The Discrete Approach:Supplementary Function Analysis86

B.The Relational Approach:Primary Function Analysis89

Ⅲ.Standard Conditions95

Ⅳ.International Instruments100

Ⅴ Summary105

PART Ⅰ-CONCLUSION107

PART Ⅱ-THE TIME ELEMENT:INFORMATION CHANGES AND THE LEGAL CONTEXT111

Chapter Ⅵ.The Time Element and Lex Contractus115

Ⅱ.Lex Contractus-Defined115

Ⅲ.Stabilization Clauses-Defined121

A.Stabilization Techniques or Forms122

B.The Nature of Stabilization Techniques127

Ⅳ Legal Effect of Stabilization Clauses130

A.Private Contracts130

B.State Contracts133

Ⅴ.Summary139

Chapter Ⅶ.Good Faith Duties141

Ⅱ.Good Faith-Behavioral Standard Honesty in Fact v.Reasonableness143

Ⅲ.Good Faith Duties-Defined146

A.The Duty to Inform146

1.The Pre-Contractual Stage146

(a) Failed Negotiations and Disclosure of Information146

(b) Prior Negotiations and Disclosure of Information147

(Ⅰ) The Contractual Equilibrium Approach148

(Ⅱ) The Misrepresentation Approach149

(Ⅲ) Contractual Equilibrium/Misrepresentation Approaches-Compared152

2.Post-Contractual Stage152

3.Post- and Pre-Contractual Duty to Inform-Compared155

B.The Duty to Cooperate156

1.Express Covenant to Cooperate157

2.Implied Covenant to Cooperate159

(a) Restraint of Contractual Benefits160

(b) Obstruction of Performance162

3.General Conditions for Cooperation164

Ⅳ.Summary167

Chapter Ⅷ.Fair Dealing:Standards of Equitable Adjustment169

Ⅰ.The Duty to Negotiate169

Ⅱ.The Duty to Negotiate-Defined170

Ⅲ.Revision175

A.The Duty to Revise-Defined175

B.Revision Standard182

Ⅳ.Gap-Filling185

A.Adjustment Standard185

Ⅴ.Summary191

Chapter Ⅸ.Fair Dealing:Standards of Equitable Adjustment193

Ⅱ.Rebus Sic Stantibus193

Ⅱ.Comparative Perspective194

Ⅲ.International Perspective199

A.Law of Treaties199

B.Commercial Arbitration200

1.Role and Scope of Rebus sic stantibus200

2.Conceptual Basis of Rebus sic stantibus204

(a) The Classical Approach:The Doctrine of Excuse205

(Ⅰ) Rationale of Excuse205

(Ⅱ) Conditions of Excuse207

(Ⅲ) Legal Consequences of Excuse214

(b) The Relational Model:Doctrine of Adjustment216

(Ⅰ) Rationale of Adjustment216

(Ⅱ) Conditions of Adjustment220

(Ⅲ) Legal Consequences:Adjustment Standard227

Ⅳ.Summary230

PART Ⅱ-CONCLUSION231

GENERAL CONCLUSION:THE CONTRACTUAL EQUILIBRIUM THEORY235

List of Abbreviations245

List of Documents251

Bibliography253

Index271