FUNDAMENTAL ALTERATION OF THE CONTRACTUAL EQUILIBRIUM UNDER HARDSHIP EXEMPTION

Abstract

The authors of this article apply systemic and comparative methods in order to discuss the key criteria of hardship as a legal institute, i.e. a fundamental alteration of the contractual equilibrium. The authors focus on modern regulations, such as those established in the Principles of International Commercial Contracts and other international contract restatements. The UNIDROIT Principles and other legal instruments usually quite abstractly define the criterion of fundamental alteration; thus further input is necessary in order to reveal the more precise requirements of hardship. The authors of this article provide such an input by conducting a comparative research of the most prominent legal doctrine and case law.

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