Principles Of European Contract Law Prepared By The Commission On European Contract Law Chairman Ole Lando

Prepared by the Commission on European Contract Law, chairman, Ole Lando.

This volume offers proposed Articles, followed by comments and information. Topics include: plurality of debtors and creditors, assignment, substitution of new debtor and transfer of contract, set- off, prescription, illegality, and conditions and capitalisation of interest.

This text provides a comprehensive guide to the principles of European contract law. They have been drawn up by an independent body of experts from each Member State of the EU, under a project supported by the European Commission and many other organizations. The principles are stated in the form of articles, with a detailed commentary explaining the purpose and operation of each article and its relation to the remainder. Each article also has extensive comparative notes surveying the national laws and other international provisions on the topic.

This is the third and last part of the Principles of European Contract Law prepared by the Commission of European Contract Law under the chairmanship of Professor Ole Lando. Parts I and II were published in 2000 and have attracted great interest and acclaim and a growing volume of secondary literature. This present volume follows the same pattern - a set of proposed Articles drawn up by the Commission, followed by comments and national notes contining a wealth of comparative law. The subjects dealt with in Part III are: plurality of debtors and creditors, assignment, substitution of new debtor and transfer of contract, set-off, prescription, illegality, conditions and capitalization of interest. No self-respecting contract lawyer in Europe can afford to ignore the "Lando Principles." They are not only a useful and convenient source of information about current laws in the countries of the European Union but also a possible blueprint for the contract part of a future European civil code. They are a touchstone against which any discussion of contract law can be tested. The book will be particularly useful to those engaged in arbitrations with and international element, to those concerned with comparative law, and to those interested in the development of legal policy on contract law at national, European or international level.

The Principles of European Contract Law, prepared by the so-called Lando Commission, today constitute the most advanced project on the harmonisation of European private law. As well as providing a set of rules which could facilitate cross-border trade within Europe, the Principles can be seen as a modern lex mercatoria which, for example, could be referred to by arbitrators deciding a case according to internationally accepted principles of law. Furthermore, the Principles provide a framework for EU legislation on contract law and, more importantly, they can be viewed as a first step towards a European Civil Code. They may also prove to be a catalyst for the development of national legislation, judicial decisions and legal doctrine. This new title, which follows the first volume covering Parts I and II of the Principles, includes chapters on plurality of parties, assignment of claims, transfer of contract, set-off, prescription, illegality and conditions. It provides a systematic overview of the Principles in comparison with Dutch law, which will be of interest not only in the Netherlands but also to lawyers in other countries who need to gain a clearer understanding of the Dutch contract law system.