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
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: Suggested Citation