Law 3101A/B Study Guide - Quiz Guide: Usufruct, Droit De Suite, Specific Performance
Document Summary
Contract law: a set of rules and principles that governs transactions among parties, thereby setting the rights and obligations of these parties. Sources: rules made by the contracting parties: the content that is decided by the parties themselves. Freedom of contract free to engage in a contract or not + free to determine its content. In practice, some standardized rules = general rules to help writing the contract: official national, european, supranational rules: Default rules that are automatically applicable if the parties have not made any other arrangements. Mandatory rules that declare such a contract void or avoidable. Primarily produced by legislature and the courts. Model rules a set of rules that compromise with the international rules (like pecl) that can serve as an example as to what to use as law. Not actual sources of law nor valid for legislation.
