Time and contract: research on timestipulations in contract law. KU Leuven
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Borrowers cannot commit to borrow only from one creditor and creditors cannot prevent borrowers taking loans from other creditors. In economists terms, financial contracts are non-exclusive. This non-exclusivity has been argued to lead to negative externalities as borrower effort is expected to decline in the amount of loans taken and incentives for strategic default (i.e. running away with the assets) increase in the total amount borrowed. ...
Sometimes contracting parties or a third party want to modify the content of a contract while still maintain the existence of the contract.
This raises the question as to what types of changes can be made while maintaining the existence of the contract. We came to the conclusion that some changes are by nature incompatible with the maintenance of the existence of the contract, i.e. the addition or removal of essential elements of the ...
When two entities form a partnership to develop a new product or service, they typically start from a functional specification that defines the need that the new development must satisfy (e.g. a new environment-friendly car, a new mobile service for impaired consumers, a new drug targeting an emerging disease). Generally, several options must be generated and assessed before achieving the best possible specification. In this phase creativity is ...
The early seventeenth-century theory of contract was marked by important developments that left profound traces on the early modern law of nations. Especially the work of the Spanish neo-scholastic thinker Francisco Suarez's, De Legibus (1612), is crucial in this context. Suarez's work profoundly influenced prominent early modern theorists such as Grotius or Heineccius. The modern and innovative character of Suarez thought and his ...
Globalisation and the ensuing flows of immigration have led to a significant cultural diversification of Western societies, including Belgium. Since legal norms are, to a certain extent, based on the cultural standards of dominant societal groups, their sustainability in a multicultural society is being increasingly challenged. Contract law constitutes a particularly interesting legal challenge in multicultural societies. Although parties to ...
A contract essentially is an act of risk-allocation where party autonomy prevails. However, contracts have been and are today more than ever confronted with reasonably unforeseen events that fundamentally disrupt the contractual equilibrium and, eventually, the economy as a whole. Pandemics, wars, financial crises or even natural catastrophes are systemic contingencies for which contracting parties cannot always allocate the risks in advance ...
This research analyses reparation in kind as a form of compensation for (external) contractual harm. Therefore, it provides a general legal framework. It examines the concept, legal basis and legal regime (conditions and hierarchical relationship to other remedies). The analysis indicates that in addition to pecuniary compensation (i.e. damages), reparation in kind is a legitimate form of compensation. Although a legal provision does ...