Scope and Functions of Principles of Latin American Contract Law: A European Comment
Authors: Reiner Schulze
This paper discusses the role and contents of the Latin-American Principles of Contract Law in comparison with the European harmonizing sets of rules. Although the PLACL share with the PECL the pioneering role, a striking difference can be seen in the scope of application. The same divergence is detected with the DCFR, as the PLACL stress their potential as a guide in legislation and case law. The conclusions to which the paper lead is that one can understand the PLACL as part of a global development which, especially since the adoption of the CISG, has influenced not only international contract practice but also numerous national laws. However, the PLACL may not only serve as a catalyst for the inclusion of Latin American in this global development of contract law but also offer the chance for Latin American jurists to transcend the supranational level by making their mark on international tendencies.
Keywords: PLACL role and content – Scope of application – International contract practice