Twentieth Century Contract Law

Author: Liang Huixing
Publisher:
Publish Date: 1997-02-01
Features: The book is divided into seven chapters. The first chapter is an introduction. In the introduction, the author points out that the classical contract theory, which serves as the foundation of modern contract law, was formed in the 19th century as a result of the codification of civil codes in various continental countries. Chapters 2 to 7 discuss the significant developments in the normative and philosophical foundations of 20th-century contract law, as well as an exploration of the current state of contract law in China. First, since the 20th century, the principle of good faith and the liability for breach of contract have been confirmed in many countries in various forms, leading to a preliminary increase in the contractual responsibilities of parties and thus dealing a blow to the once-unshakable absolute principle of contractual freedom of the last century. Second, the doctrine of consideration, which reflects the formal exchange relationship, has faced increasing criticism, and the principle of non-retraction after a promise has become the main mechanism to maintain the fairness of contracts in common law. Finally, these developments in 20th-century contract law have been reflected to some extent in China's contract legislation and theory, but China's contract law still exhibits its unique characteristics.