Magazine article Dispute Resolution Journal , Vol. 62, No. 1
An International Restatement of Contract Law: The UNIDROIT Principles of International Commercial Contracts (Third Edition). By Michael Joachim Bonell. Ardsley, N.Y.: Transnational Publishers Inc. (www.transnationalpubs.com), 2005. Hardcover. $135. 704 pages.
First published in 1994, this book was so successful in the international business and legal communities that it spawned a second edition in 1997 and a third edition in 2005. Here you will find comprehensive information about the 2004 UNIDROIT Principles of International Commercial Contracts, as well as an analysis of the use of the principles by courts and arbitral tribunals.
The document called the Principles of International Commercial Contracts was prepared under the auspices of the International Institute for the Unification of Private Law, also known as UNIDROIT, an independent, intergovernmental organization based in Rome. Hence the name UNIDROIT Principles. Lawyers worldwide use these principles as guidelines in contract negotiation, and arbitrators use them as a basis for settlement of disputes. National legislatures also use them as a basis of law reform projects.
This book is called An International Restatement of Contract Law. Why the need for a restatement? To help overcome deficiencies in international contract law, says author Michael Joachim Bonell. …