The Principles of BRICS Contract Law: A Comparative Study of General Principles Governing International Commercial Contracts in the BRICS Countries ... Perspectives on Law and Justice, 102)

This book examines national reports on contract law in each of the BRICS countries (Brazil, Russia, India, China and South Africa) in order to provide a comparative analysis. It then establishes common principles, where possible, as well as a set of general “soft law” principles governing international commercial contracts in these countries. The importance of commercial transactions in the BRICS countries is rapidly growing, yet differences in contract law among these countries can lead to misunderstandings and disputes. The rapid development of the BRICS instruments (and the legal implications of their use) suggests the need to address common legal issues that could harm the continued development of the BRICS economies. Contract law represents one of the core areas in which this process can take place. Addressing the salient legal issues within the BRICS discourse requires a comprehensive, comparative approach that explores the different solutions provided by each member country, in order to identify similarities and convergences. This process may ultimately help to reduce the legal obstacles to, and indirect costs of, cross-border transactions by offering a transparent and predictable legal environment for any future attempt at adopting common legal instruments. Preface Contents Editors and Contributors Abbreviations Setting the Scene The Research Project on the Principles of BRICS Commercial Contracts Law. An Introduction 1 General Premises 2 BRICS and the Law 3 BRICS and Contract Law 4 The Book References Commercial Contract Law in the BRICS: A Comparative Overview 1 Introduction 2 Brazil 3 Russia 4 China 5 South Africa 6 India 7 Comparative Conclusions References Questions and Answers in the Framework of National Jurisdictions The Questionnaire for the Drafting of the National Reports 1 Introduction (Chapter 1 PICC) 2 Formation of Contracts (Chapter 2, Section 1 PICC = Articles 2.1.1–2.1.22 PICC) 2.1 Formation: Overview 2.2 Formation: Specific Topics 3 Validity of Contracts (Chapter 3 PICC = Articles 3.1.1–3.3.2 PICC) 3.1 Validity—Overview 3.2 Validity—Specific Topics 4 Interpretation of Contracts (Chapter 4 PICC = Articles 4.1–4.8 PICC) 4.1 Interpretation—Overview 4.2 Interpretation—Specific Topics 5 Content of Contracts (Chapter 5 PICC = Articles 5.1.3–5.1.9, 5.3.1–5.3.5) 5.1 The Content of Contracts—Overview 5.2 The Content of Contracts—Specific Topics 6 Performance of a Contract (Chapter 6 PICC = Articles 6.1.1–6.1.17, 6.2.1–6.2.3) 6.1 Performance of a Contract–Overview 6.2 Performance of a Contract—Specific Topics 7 Non-performance (Breach of Contract) (Chapter 7 PICC = Articles 7.1.1–7.4.13) 7.1 Non-performance (Breach of Contract)—Overview 7.2 Non-performance/Breach—Specific Topics 8 Limitation Periods (Chapter 10 PICC = Articles 10.1–10.11) 8.1 Limitation Periods—Overview 8.2 Limitation Periods—Specific Topics Brazilian Report 1 Introduction 2 Formation of Contracts 2.1 Formation: An Overview 2.2 Formation: Specific Topics 3 Validity of Contracts 3.1 Validity—Overview 3.2 Validity—Specific Topics 4 Interpretation of Contracts 4.1 Interpretation—Overview 4.2 Interpretation—Specific Topics 5 Content of Contracts 5.1 The Content of Contracts—Overview 5.2 The Content of Contracts—Specific Topics 6 Performance of a Contract 6.1 Performance of a Contract—Overview 7 Non-performance (Breach of Contract) 7.1 Non-performance (Breach of Contract)—Overview 7.2 Non-performance/Breach—Specific Topics 8 Imitation Periods References Russian Report 1 Introduction 1.1 The Substantive Law Applicable to International Commercial Contracts 1.2 The Forum and Procedure Governing Disputes Arising from International Commercial Contracts 1.3 The International Commercial Context: The Russian Federation’s Main Trading Partners 2 Formation of Contracts 2.1 Formation: Overview 2.2 Formation: Specific Topics 3 Validity of Contracts 3.1 Validity—Overview 3.2 Validity—Specific Topics 4 Interpretation of Contracts 4.1 Interpretation—Overview 4.2 Interpretation—Specific Topics 5 Content of Contracts 5.1 The Content of Contracts—Overview 5.2 The Content of Contracts—Specific Topics 6 Performance of a Contract 6.1 Performance of a Contract—Overview 7 Non-performance (Breach of Contract) 7.1 Non-performance (Breach of Contract)—Overview 7.2 Non-performance/Breach—Specific Topics 8 Limitation Periods 8.1 The Rights or Remedies Subject to Limitation Periods 8.2 The Extent to Which the Rules Relating to Limitation Periods Are Mandatory 8.3 The Extent to Which a Debtor (Obligor) Could Be Prevented from Asserting the Defense of Limitation Due to Inconsistent Behavior or Dishonest Concealment of Facts 8.4 The Duration of the General Limitation Period 8.5 The Circumstances Under Which a New Limitation Period Starts to Run or the Running of a Limitation Period is Suspended 8.6 The Effect of Prescription Reference Indian Report 1 Introduction 1.1 The Contract Law of India 1.2 The Law Applicable to International Commercial Contracts 1.3 The Forum and Procedures Governing Disputes Arising from International Commercial Contracts 1.4 The International Commercial Context: India’s Main Trading Partners 2 Formation of Contracts 2.1 Formation: Overview 2.2 Formation: Specific Topics 3 Validity of Contracts 3.1 Validity—Overview 3.2 Validity—Specific Topics 4 Interpretation of Contracts 4.1 Interpretation—Overview 4.2 Interpretation—Specific Topics 5 Content of Contracts 5.1 The Content of Contracts—Overview 5.2 The Content of Contracts—Specific Topics 6 Performance of a Contract 6.1 Performance of a Contract—Overview 7 Non-performance (Breach of Contract) 7.1 Non-performance (Breach of Contract)—Overview 7.2 Non-performance/Breach—Specific Topics 8 Limitation Periods 8.1 Limitation Periods—Overview 8.2 Limitation Periods—Specific Topics References Chinese Report 1 Introduction 1.1 Substantive Law Applicable to International Commercial Contracts 1.2 The Forum and Procedures Governing Disputes Arising from International Commercial Contracts 1.3 The International Commercial Context: China’s Main Trading Partners 2 Formation of Contract 2.1 General Introduction to the Formation of Contract 2.2 Formation of Contract. Special Themes 3 Validity of Contract 3.1 General Introduction to Validity of Contract 3.2 Validity 4 Interpretation of Contract 4.1 Overview 4.2 Interpretation-Specific Topics 5 Content of Contract 5.1 Overview 5.2 Content of Contract-Specific Topics 6 Performance of Contract—Overview 6.1 Performance in General 7 Non-performance (Breach of Contract) 7.1 Non-performance Overview 7.2 Non-performance /Breach—Specific Topics 8 Limitation Period References South African Report 1 Introduction 1.1 The Substantive Law Applicable to International Commercial Contracts 1.2 The Forum and Procedure Governing Disputes Arising from International Commercial Contracts 1.3 The International Commercial Context: South Africa’s Main Trading Partners 2 Formation of Contracts 2.1 Formation: Overview 2.2 Formation: Specific Topics 3 Validity of Contracts 3.1 Validity—Overview 3.2 Validity—Specific Topics 4 Interpretation of Contracts 4.1 Interpretation—Overview 4.2 Interpretation—Specific Topics 5 Content of Contracts 5.1 The Content of Contracts—Overview 5.2 The Content of Contracts—Specific Topics 6 Performance of a Contract 6.1 Performance of a Contract—Overview 7 Non-performance (Breach of Contract) 7.1 Non-performance (Breach of Contract)—Overview 7.2 Non-performance/Breach—Specific Topics 8 Limitation Periods 8.1 The Rights or Remedies Subject to Limitation Periods 8.2 The Extent to Which the Rules Relating to Limitation Periods Are Mandatory 8.3 The Extent to Which a Debtor (Obligor) Could be Prevented from Asserting the Defence of Limitation Due to Inconsistent Behaviour, or Due to Dishonest Concealment of Facts 8.4 The Duration of the General Limitation Period 8.5 The Circumstances Under Which a New Limitation Period Starts to Run or the Running of a Limitation Period Is Suspended 8.6 The Effect of Prescription References On the Way to the Principles of BRICS Commercial Contracts Law The Possible Path Towards the Principles of BRICS Commercial Contracts Law 1 Introduction 2 Formation of Contracts 2.1 Formation: Overview 2.2 Formation: Specific Topics 3 Validity of Contracts 3.1 Validity—Overview 3.2 Validity—Specific Topics 4 Interpretation of Contracts 4.1 Interpretation—Overview 4.2 Interpretation—Specific Topics 5 Content of Contracts 5.1 The Content of Contracts—Overview 5.2 The Content of Contracts—Specific Topics 6 Performance of a Contract 6.1 Performance of a Contract—Overview 7 Non-performance (Breach of Contract) 7.1 Non-performance (Breach of Contract)—Overview 7.2 Non-performance/Breach—Specific Topics 8 Limitation Periods 8.1 Limitation Periods—Specific Topics Further Reading