Contract Law in Contemporary International Commerce

According to the Rome I Regulation, ‘the proper functioning of the internal market creates a need, in order to improve the predictability of the outcomes of litigation, certainty as to the law applicable […] therefore legal certainty should be highly foreseeable and as a consequence […] the courts should retain a degree of discretion’. To illustrate this reasoning, it is necessary to conduct an analysis that focuses critically on the complex relationship between legal processes and market processes. Therefore, this book focuses on a modern economic analysis of contract law as well as on the battle between legal certainty and legal congruence. In its conclusion, the book points out the urgent need for a new contract law theory that enhances the real economic intentions of the parties involved, and for a new reasonable rule of PiL that does not harm the contractual parties that represent the principal players in the market.