Equilibrium in International Commercial Contracts

Dr. Yildirim was born in Ankara, Turkey in 1979. He holds a LL.B. degree from Yeditepe University, a LL.M. degree from the University of East Anglia and a PhD degree from the University of Rome II “Tor Vergata”. He is currently working as senior lecturer at Istanbul Kemerburgaz University School of Law, and teaches international commercial law and international commercial arbitration at Bahçe ?ehir and Yeniyüzy?l Universities. Dr. Yildirim’s publications include several articles on international commercial law published in various international law reviews. He also serves as counsel and arbitrator in national and international arbitrations. The 20th Century witnessed many wars, natural disasters, political and financial crises, spread use of information and communication technologies and global trade expansion. These political, economical and social events had some effects on legal systems both in national and international levels. As these events altered the equilibrium of many contracts, legal institutions that regard the restoration of the equilibrium of reciprocal contractual undertakings were developed in the last Century; such as lésion, unconscionability, unfairness, gabin, eccessiva onerosità sopravvenuta, imprévision, Wegfall der Geschäfts-grundlage, i?lem temelinin çökmesi and hardship. In this work the author studies these institutions in the context of national, international and transnational laws from a comparative point of view. The author illustrates how the legal remedies are applied in periods of political and financial crises in the context of various legal systems. You will also find in this book the most complete study of the UNIDROIT Principles’ provisions on gross disparity and hardship that include also the relevant arbitral case law.