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The Founding Principles of Contract Law

law

Definition

Contract
Agreement of wills between two or more persons, intended to create, modify, transmit or extinguish obligations.
Obligation
Legal link between a creditor and a debtor. Obligations of means or results are distinguished.
Unforeseeability
Performance becomes too burdensome for one party due to a change in unforeseen circumstances at the time of conclusion. The party affected did not agree to bear the risks at the time of conclusion.

The Variety of Contracts

II. Major Principles

A. Good Faith

"Good faith is expected at all times in everything, a person is presumed to be acting in good faith."

Formation: Duty of transparency + loyalty

Execution: Duty of cooperation + duty of goodwill


B. Contractual Freedom

Freedom to contract or not contract

Freedom to choose one's co-contractor

Freedom to choose the content of the contract

Freedom to choose the form of the contract

Precision: Limitations to public order


C. Binding Force

"Legally formed contracts hold the same force as law for those who made them."

-> Obligations of means/results

-> Obligations of information/security


o Irrevocability -> No unilateral revocation, only mutual agreement (consumer exception -> right of withdrawal)

o Intangibility -> No unilateral modification, only mutual agreement (exception -> unforeseen circumstances).

Unforeseeability -> the affected party can impose a renegotiation of the contract; if refused or failed -> termination or judge's intervention

Post-Bac
1

The Founding Principles of Contract Law

law

Definition

Contract
Agreement of wills between two or more persons, intended to create, modify, transmit or extinguish obligations.
Obligation
Legal link between a creditor and a debtor. Obligations of means or results are distinguished.
Unforeseeability
Performance becomes too burdensome for one party due to a change in unforeseen circumstances at the time of conclusion. The party affected did not agree to bear the risks at the time of conclusion.

The Variety of Contracts

II. Major Principles

A. Good Faith

"Good faith is expected at all times in everything, a person is presumed to be acting in good faith."

Formation: Duty of transparency + loyalty

Execution: Duty of cooperation + duty of goodwill


B. Contractual Freedom

Freedom to contract or not contract

Freedom to choose one's co-contractor

Freedom to choose the content of the contract

Freedom to choose the form of the contract

Precision: Limitations to public order


C. Binding Force

"Legally formed contracts hold the same force as law for those who made them."

-> Obligations of means/results

-> Obligations of information/security


o Irrevocability -> No unilateral revocation, only mutual agreement (consumer exception -> right of withdrawal)

o Intangibility -> No unilateral modification, only mutual agreement (exception -> unforeseen circumstances).

Unforeseeability -> the affected party can impose a renegotiation of the contract; if refused or failed -> termination or judge's intervention