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5 Predictability

From: Governing Law Risks in International Business Transactions

Philip R. Wood

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 02 June 2023

Termination/unwinding of contract — Insolvency clauses and damages

This chapter reviews comparatively the predictability of contracts, especially the role of codification, binding judicial precedent, and the doctrine internationally of good faith in contract, especially in England, New York, France, and Germany, and other main jurisdictions. It reviews the good faith doctrine comparatively in relation to contract terminations, heads of terms, pre-contract disclosure, hardship clauses, and other cases. It discusses the application of the doctrine of good faith internationally to consents and discretions of one party to a contract, a contract to to negotiate in good faith, and the filling-in of inadequate contracts to give them business efficacy. It reviews the reasons that English and New York courts do not usually override the express terms of contracts by reason of the good faith doctrine, but the courts of France and Germany may do so.

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