Unexpected Circumstances in European Contract Law (The Common Core of European Private Law)

The recent financial crisis has questioned whether existing contracts may be adapted, terminated or renegotiated as a result of unexpected circumstances. The question is not a new one. In medieval times the notion of clausula rebus sic stantibus was developed to cope with such situations, and Germany introduced the theory of Wegfall der Geschäftsgrundlage. In England, the Coronation cases provided one possible answer. This comparative study explores the possibility of classifying jurisdictions as 'open' or 'closed' in this regard. Introduction : An Approach To The Issues And Doctrines Relating To Unexpected Circumstances / Ewoud Hondius And Hans Christoph Grigoleit -- Legal History / Andreas Thier -- Law And Economics : The Comparative Law And Economics Of Frustration In Contracts / Marta Cenini, Barbara Luppi, Francesco Parisi -- Overview : Concepts Dealing With Unexpected Circumstances -- Questionnaire -- The Case Studies -- General Comparative Remarks : Converging Tendencies, Remaining Differences And The Unsolved Mystery Of Adjustment / Ewoud Hondius And Hans Christoph Grigoleit. Edited By Ewoud Hondius And Hans Christoph Grigoleit. Includes Bibliographical References (p. 662-664) And Index. The recent financial crisis has questioned whether existing contracts may be adapted, terminated or renegotiated as a result of unexpected circumstances. The question is not a new one. In medieval times the notion of clausula rebus sic stantibus was developed to cope with such situations, and Germany introduced the theory of Wegfall der Geschaftsgrundlage. In England, the Coronation cases provided one possible answer. This comparative study explores the possibility of classifying jurisdictions as 'open' or 'closed' in this regard Jurisdictions all over Europe have to deal with the question of whether or not unexpected circumstances can lead to adaptation, termination or renegotiation of existing contracts. This comparative study explores the possibility of classifying jurisdictions as 'open' or 'closed' in this regard. Part I: 1. Introduction 2. Legal history 3. Law and economics Part II. The Case Studies: 4. Questionnaire 5. Overview: concepts dealing with unexpected circumstances 6. The case studies Part III. General Comparative Remarks