DISCUSSION REGARDING GOOD FAITH AND CHANGE OF CIRCUMSTANCES
DISCUSSION REGARDING GOOD FAITH AND CHANGE OF CIRCUMSTANCES

Summary/Abstract: The current economic climate underlines the importance and necessity of proper legal mechanisms which can enforce parties’ protection and expectations in regard to unexpected changes of circumstances which may occur during contract performance. The aim of this paper is to highlight how the institution of „change of circumstances” has been regulated in the newly enacted Romanian Civil Code, while also undertaking a comparative analysis in regard to the Principles of European Contract Law and the Common Frame of Reference. Before the enactment of the present Civil Code, change of circumstances was viewed as more of a jurisprudential and doctrinal solution to given legal problems which affected contractual balance; however, the current legislation has recognized both change of circumstances and good faith through express provisions. In the context of the principle of good faith we have a better understanding of its role in the change of circumstances and of how the former is applicable in the field of contract performance.

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