Comparative and Foreign Law Commons^™

Uk’S Ratification Of The Cisg – An Old Debate Or A New Hope For The Economy Of The Uk On Its Way Out Of The Recession: The Potential Impact Of The Cisg On The Uk’S Sme, Silvia E. Nikolova

Pace International Law Review Online Companion

The main hypothesis of this article is that the Vienna Convention on the International Sale of Goods has the potential to act as a catalyst for the economy of the UK on its way out of the recession and, therefore, should be ratified, as it will strongly affect the development of the SME sector. This hypothesis will be questioned and evaluated throughout the article.

In Part II of the article, the importance of the SMEs for the current economy of the UK will be assessed. Together with Part I, Part II will form the prism through which the remainder of …

The American Commercial Religion, Haider Ala Hamoudi

Articles

To all but possibly the most senior of commercial law specialists, it is difficult to imagine American commercial life without the nationwide adoption of the Uniform Commercial Code. We would surely regard as impossible the idea that the vast economic success of the latter half of the twentieth century could have been achieved without it. The Uniform Commercial Code is our godhead, our sacred foundational document, our Holy Book of modern commerce, which brought us a form of economic enlightenment from the pre-Code Days of Ignorance. Our attachment to the U.C.C. runs far deeper than a mere rational commercial preference. …

Penalty Clauses And The Cisg, Jack Graves

Scholarly Works

Commercial agreements often provide for “fixed sums” payable upon a specified breach. Such agreements are generally enforced in civil law jurisdictions. In contrast, the common law distinguishes between “liquidated damages” and “penalty” clauses, enforcing the former, while invalidating the latter as a penalty. The UN Convention on Contracts for the International Sale of Goods (CISG) does not directly address the payment of “fixed sums” as damages, and the validity of “penalty” clauses has, traditionally, been relegated to otherwise applicable domestic national law under CISG Article 4. This traditional orthodoxy has recently been challenged—suggesting that the fate of a penalty clause …