{"title":"Article: Open-Price Contracts Under the CISG: The Law in Action","authors":"","doi":"10.54648/eulr2024018","DOIUrl":null,"url":null,"abstract":"The CISG is undoubtedly the most successful instrument of international trade law. While in former times the international sale of goods was regulated by domestic laws, today the international community is able to offer a truly international regime for these contracts. However, the CISG is not free from ambiguities and contradictions. One of the most famous is between Articles 14(1) and 55. This interplay has ignited the well-known academic controversy over the validity of sale of goods contracts without an agreed price under the CISG.\nThe purpose of this article is to look at this contradiction from a different point of view. While in theory it is possible to argue that there is a stalemate between the supporters of validity of open-price contracts and their opponents, this stalemate is the law on the book. The law in practice offers a different landscape. It shows that in practice open-price contracts are regarded as valid under the CISG, although the adjudicators still struggle with the correct application of Article 55.\nOpen-price contracts, Article 14, Article 55, agreements to agree, tentative prices, determinable price, contractual validity, market price, reasonable price.","PeriodicalId":53431,"journal":{"name":"European Business Law Review","volume":"46 10","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"European Business Law Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.54648/eulr2024018","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 0
Abstract
The CISG is undoubtedly the most successful instrument of international trade law. While in former times the international sale of goods was regulated by domestic laws, today the international community is able to offer a truly international regime for these contracts. However, the CISG is not free from ambiguities and contradictions. One of the most famous is between Articles 14(1) and 55. This interplay has ignited the well-known academic controversy over the validity of sale of goods contracts without an agreed price under the CISG.
The purpose of this article is to look at this contradiction from a different point of view. While in theory it is possible to argue that there is a stalemate between the supporters of validity of open-price contracts and their opponents, this stalemate is the law on the book. The law in practice offers a different landscape. It shows that in practice open-price contracts are regarded as valid under the CISG, although the adjudicators still struggle with the correct application of Article 55.
Open-price contracts, Article 14, Article 55, agreements to agree, tentative prices, determinable price, contractual validity, market price, reasonable price.
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The mission of the European Business Law Review is to provide a forum for analysis and discussion of business law, including European Union law and the laws of the Member States and other European countries, as well as legal frameworks and issues in international and comparative contexts. The Review moves freely over the boundaries that divide the law, and covers business law, broadly defined, in public or private law, domestic, European or international law. Our topics of interest include commercial, financial, corporate, private and regulatory laws with a broadly business dimension. The Review offers current, authoritative scholarship on a wide range of issues and developments, featuring contributors providing an international as well as a European perspective. The Review is an invaluable source of current scholarship, information, practical analysis, and expert guidance for all practising lawyers, advisers, and scholars dealing with European business law on a regular basis. The Review has over 25 years established the highest scholarly standards. It distinguishes itself as open-minded, embracing interests that appeal to the scholarly, practitioner and policy-making spheres. It practices strict routines of peer review. The Review imposes no word limit on submissions, subject to the appropriateness of the word length to the subject under discussion.
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