The Seller's Right to Cure a Failure to Perform in International Sales
NYU School of Law - Straus Institute for the Advanced Study of Law and Justice; University of Haifa - Faculty of Law; Yale Law School
September 26, 2010
Nordic Journal of Commercial Law, pp. 1-19, 2005
A defaulting party’s right to cure a failure to perform under the condition that such cure does not create any – or at least any excessive – hardship for the aggrieved party, has emerged from American relational reforms of sales law (UCC Art. 2-508) to become a staple of modern contract law, and of modern sales law in particular. This study reviews, analyses and compares the respective provisions governing the seller’s right to cure a failure to perform under two important legal regimes, that of the UN Sales Convention 1980 (CISG), pertaining to international sales, and the Principles of European Contract Law 2003 (PECL) which does not distinguish between domestic and international transactions. It supplies a normative framework for the relations between the right to cure, the right to damages, and the right to terminate a contract, within a unified matrix of remedial and quasi-remedial measures.
Number of Pages in PDF File: 19
Keywords: Contracts, Sales, International Sales, Cure, Breach of Contract, Remedies for Breach of Contract, Sales, CISG, PECL, UCC
JEL Classification: K10, K11, K12, K20, K30, K39, K40, K49, K41Accepted Paper Series
Date posted: June 6, 2006 ; Last revised: September 14, 2011
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