Trans-Lex Administrative Information
[click here to copy citation to clipboard]
Please Cite as: "http://www.trans-lex.org/951000".
No. VIII.1 - Definition
Any event of legal, economic, technical, political or financial nature
which occurs or becomes known to the disadvantaged party after the conclusion of the contract,
which could not reasonably have been taken into account by the disadvantaged party at the time of the conclusion of the contract and
which fundamentally alters the equilibrium of the contractual obligations, thereby rendering the performance of the contract excessively onerous for that party provided that party has not, through express stipulation or by the nature of the contract, assumed the risk of that event
constitutes hardship ("Wegfall der Geschäftsgrundlage", "clausula rebus sic stantibus", "frustration of purpose").
1. Hardship Defined as Event Increasing Costs of One Party
Employment Contract (click to expand)
Sales & Purchase Contract (click to expand)
Please click below for (full) text references[doctrine] [arbitral awards] [court decisions] [national legislation] [principles / restatements] [international legislation] [model laws] [model terms] [arbitration rules] [misc.]
There are no Threads related to this document. Open one by yourself.
Trans-Lex in Social Media:
How to use the Site - Contact - Team - Trustees - Disclaimer / Legal information / Privacy - API - Forum - Abbreviations - twitter - facebook
A project of CENTRAL, University of Cologne. Co-sponsored by Klemens Pleyer Foundation