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
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 provides an analytical framework for contractual cure in international transactions, then presents, analyses and compares the respective provisions governing the seller’s right to cure a failure to perform, with relation to the right to terminate the contract, to damages and to performance, under several legal regimes, with emphasis on the UN Sales Convention 1980 (CISG).
Number of Pages in PDF File: 19
Keywords: Contracts, Sales, International Sales, Cure, Breach of Contract, Remedies for Breach of Contract, Sales, CISG, CESL, PECL, UCC
JEL Classification: K10, K11, K12, K20, K30, K39, K40, K49, K41
Date posted: June 6, 2006 ; Last revised: November 27, 2014