The law of contract

Modern society is unthinkable without the possibility to conclude binding contracts. This chapter provides first year students with a brief comparative introduction to the law of contract. It discusses the aims and principles of contract law and provides an overview of how contracts come into being, how their contents are established and what are the rights and obligations of the contracting parties in case of non-performance. The chapter thus pays attention to the doctrines of offer and acceptance, will and reliance, causa and consideration, interpretation and gap filling, prohibited contracts and performance, damages and termination for breach. All of this is preceded by an overview of the relevant sources of contract law in an international setting.