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"We Don't Understand It and We Don't Like It": The Successful Way of the Reduction on Price from Roman Law into International Model Rules and the Common Law's Ambievalent Attitude towards the Remedy

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dc.contributor.author Sonntag, Michael
dc.date.accessioned 2012-07-23T02:40:32Z
dc.date.accessioned 2022-11-01T22:28:03Z
dc.date.available 2012-07-23T02:40:32Z
dc.date.available 2022-11-01T22:28:03Z
dc.date.copyright 2011
dc.date.issued 2011
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/28081
dc.description.abstract This paper is dedicated to the remedy of reduction of price. It analyses and compares the corresponding provisions of the German Civil Code (BGB), the United Nations Convention on the International Sale of Goods (CISG) the Principles of European Contract Law (PECL) and the Draft Common Frame of Reference (DCFR). Special attention is paid to common law influence on the remedy. The comparison shows eventually that there was significant influence which resulted in a change of the reference point for the calculation of the reduced price to the time of delivery instead of the time of the conclusion of the contract. This change caused several disadvantages and was a mistake. Apart from this, the occurrence of the remedy constantly improved over time peaking in the very clear provision of the DCFR. The paper then outlines the advantages of the remedy in contrast to damages showing that the reduction of price is more beneficial for the buyer in several situations. The last chapter shows that the remedy is significantly less used by common law than civil law lawyers. This is because the remedy seems to be in discord with the common law’s view of contracts, especially the need for consideration. However, the remedy does not contravene the principles of the common law and barely noticed found its way into common law jurisdictions. The paper concludes that the common law should adopt the remedy and help to develop it further. en_NZ
dc.format pdf en_NZ
dc.language en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.subject Reduction of price en_NZ
dc.subject Remedies en_NZ
dc.title "We Don't Understand It and We Don't Like It": The Successful Way of the Reduction on Price from Roman Law into International Model Rules and the Common Law's Ambievalent Attitude towards the Remedy en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit School of Law en_NZ
vuwschema.subject.marsden 390104 Commercial and contract law en_NZ
vuwschema.type.vuw Masters Research Paper or Project en_NZ
thesis.degree.discipline Law en_NZ
thesis.degree.grantor Te Herenga Waka—Victoria University of Wellington en_NZ
thesis.degree.level Masters en_NZ
thesis.degree.name Master of Law en_NZ


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