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Effects of CISG on the Principles of Asian Contracts Law

  • Journal of International Business Transactions Law
  • Abbr : IBT
  • 2019, (27), pp.159-181
  • DOI : 10.31839/ibt.2019.10.27.159
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law > Private Law > International Commercial Transactions Law
  • Received : September 30, 2019
  • Accepted : October 7, 2019
  • Published : October 31, 2019

WOOJOO BYUN 1

1동아대학교

Accredited

ABSTRACT

The fact that the law applied to cross-border transactions varies from country to country is a hindrance to the smooth development of transactions in that under the traditional ‘Conflict of Law’, one of the laws enacted by each country is designated as the Governing Law. The work for ‘global reunification of the judicial system’ which began in the early 20th century to eliminate such obstacles, has become more active in the 21st century as globalization advances. In particular, there is not much need for a unified statute concerning on the unique customs and family order based on the unique history and culture of each country. On the other hand, the requirement or need for common norms on the statute of international transactions based on the perception of the need for an economic community is gradually growing. Then it is necessary to examine the need to draw common principles on judicial unification, among others on the 'contract law' and the existence of substantial demand in the Asian region. The appearance of international transactions is achieved through contract as the most efficient means of realizing private autonomy, and furthermore, through the guarantee of freedom in contract, the promotion of competition and the establishment of a fair competition system are directed toward the development of free market order. In this process, if a unified contract law as a common norm across East Asia is established, the marketability of the Asian region will further improve, thereby allowing it to stay ahead in competition with other economic blocs. This paper will examine the performance of PACL so far and review future tasks. Among PACLs, the work on defaulting, in which it is set to precede a public announcement, has also deepened the common understanding among researchers to some extent through several PACL forums. In comparison, it can be said that discussions on general rules, including the formation of a contract, are still less complete. Here, in particular, I would like to expect the completion of the PACL in the future through comparison with the CISG as a general or common law that is generally accepted worldwide to resolve disputes arising in international trade relations.

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