Price reduction: a remedy to adjust contracts. KU Leuven
At first sight, price reduction is not considered to be a general remedy for breach of contract or force majeure in Belgian law. Nevertheless, price reduction as a remedy is recognized in article 50 of the CISG, in Dutch law (partial termination), in the European initiatives of harmonization of private law (DCFR and PECL), and in a proposal for a regulation on a Common European Sales Law (CESL). First, we will discuss specific applications ...