Financial Crises and Danish Contract Law: No Room for Hardship
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Financial Crises and Danish Contract Law : No Room for Hardship. / Andersen, Mads Bryde; Lookofsky, Joseph.
The Effects of Financial Crises on the Binding Force of Contracts: Renegotiation, Rescission or Revision. ed. / Başak Başoğlu. Vol. 17 Springer, 2016. p. 121-135 (Ius Comparatum - Global Studies in Comparative Law, Vol. 17).Research output: Chapter in Book/Report/Conference proceeding › Report chapter › Research › peer-review
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TY - GEN
T1 - Financial Crises and Danish Contract Law
T2 - No Room for Hardship
AU - Andersen, Mads Bryde
AU - Lookofsky, Joseph
PY - 2016
Y1 - 2016
N2 - Danish law recognizes a number of modifications to the pacta sunt servanda rule. When such modifications apply, a promisor may be relieved, in whole or part, of its obligation to perform as originally agreed. Due to the emphasis usually placed on pragmatic considerations in Danish law (which goes hand in hand with a lack of legal formalism in our legal system), the various recognized exceptions to pacta sunt servanda – both statutory and otherwise – sometimes tend to overlap. So although it seems appropriate in a comparative context to provide a schematic (point by point) presentation of these exceptions - e.g. with specific focus on exceptions related to the possible effects of financial crises ("Hardship") - account must also be taken of their interaction in Danish legal theory and practice, not least because Danish courts do not always specify the exact legal principle which they apply when holding that a contractual provision is not binding.
AB - Danish law recognizes a number of modifications to the pacta sunt servanda rule. When such modifications apply, a promisor may be relieved, in whole or part, of its obligation to perform as originally agreed. Due to the emphasis usually placed on pragmatic considerations in Danish law (which goes hand in hand with a lack of legal formalism in our legal system), the various recognized exceptions to pacta sunt servanda – both statutory and otherwise – sometimes tend to overlap. So although it seems appropriate in a comparative context to provide a schematic (point by point) presentation of these exceptions - e.g. with specific focus on exceptions related to the possible effects of financial crises ("Hardship") - account must also be taken of their interaction in Danish legal theory and practice, not least because Danish courts do not always specify the exact legal principle which they apply when holding that a contractual provision is not binding.
U2 - 10.1007/978-3-319-27256-6_7
DO - 10.1007/978-3-319-27256-6_7
M3 - Report chapter
SN - 978-3-319-27254-2
VL - 17
T3 - Ius Comparatum - Global Studies in Comparative Law
SP - 121
EP - 135
BT - The Effects of Financial Crises on the Binding Force of Contracts
A2 - Başoğlu, Başak
PB - Springer
ER -
ID: 91333755