A Comparative Study in the Law of the Non-Existent: Contract Invalidity in the U.S. And Russia

Currents: International Trade Law Journal, Vol. 15, No. 2, pp. 28-44, 2006

17 Pages Posted: 12 Dec 2008

Date Written: 2006

Abstract

Agreements purported to create contracts can be ranged based upon the degree of their enforceability. Despite visibly huge conceptual and terminological differences in contract law of the U.S. and Russia, in both countries such agreements can be divided into the same categories. These are (1) agreements without any legal consequences (no contract is formed), (2) perfectly enforceable agreements, (3) agreements of avoidable enforceability (known as voidable contracts in both countries), (4) agreements of otherwise qualified enforceability (this logically necessary category is notably empty, or almost so), and (5) unenforceable agreements with some legal consequences (including all void contracts in Russia).

Keywords: Russia, contract, void, voidable, unenforceable

JEL Classification: K12

Suggested Citation

Budylin, Sergey, A Comparative Study in the Law of the Non-Existent: Contract Invalidity in the U.S. And Russia (2006). Currents: International Trade Law Journal, Vol. 15, No. 2, pp. 28-44, 2006. Available at SSRN: https://ssrn.com/abstract=1314717

Sergey Budylin (Contact Author)

Roche and Duffay ( email )

Petrovka 15/13
Second Floor
Moscow
Russia

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