Reasonableness in the Principles of European Contract Law PECL) Law

REASONABLENESS IN PRINCIPLES OF EUROPEAN CONTRACT LAW
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The role and significance of the concept of “reasonableness” in Principles of European Contract Law (PECL)
Introduction
Article 1:302 in Principles of European Contract Law (PECL) outlines the perspective under which the judgment of reasonableness is viewed. In this case, the judgment is based on the actions of good faith as well as the conditions surrounding the contract that the parties consider reasonable. The concept of reasonableness in the legal provisions has become a reference point continuously due to factors such as the influence of key international conventions that concern several commercial contracts. These may include the implementation of European Union directives within the field of contract law, where the concept of reasonableness is constantly applicable. The level of attractiveness of reasonableness is dependent on specific features that entail extreme flexibility as well as proximity towards concrete circumstances as compared to strict features of other re-known principles alongside concepts applicable in Civil law such as ‘equity’ and ‘good faith’ (Hondius and Van Kooten, 2002).
The principle of reasonableness resonates with the nature of judgment on those acting in good faith under a similar situation considered reasonable. The assessment of what is reasonable considers the nature as well as the purpose of the contract, the nature of circumstances of the case alongside the practices, and the application of the professions involved. The contract law is considered almost universally to be at the disposition of the parties in the process of modeling their individual contract situation. The significant parts of the provisions of the contract law are usually considered mandatory. The rules are usually confined to popular issues of validity due to immorality, illegality, or incapacity alongside the rudimentary protection of the balance of responsibilities as agreed between the parties involved. In the situations where the partners in the agreement actively negotiate the terms of the contract and especially within the manifold scenario where they do not discuss the conditions, the commercial parties involved as per cross-border transactions fail to consider the substantive law as applicable to the contract. Such a process holds true from the contract drafting stage to the fulfillment of the duties as performed under the duties outlined by the contract (Hondius and Van Kooten, 2002).
The role and significance of the concept of “Reasonableness.”
The principles of European Contract Law entail the principal source that allows for the identification of guiding principles of reasonableness under contract law. On the same note, the concept of “Reasonableness” provides a useful guide applicable in the interpretation and the application of the Principles of European Contract Law. In this case, it makes perfect sense the art of associating reasonableness with Contract Law. In PECL, the concept of reasonableness helps define all relevant factors that should be considered in making a decision upon signing contracts between two partie...