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The choice of the PICC as the proper law of the contract in Latin American jurisdictions: Chilean contract law as a sample study
Indexado
WoS WOS:001280628200001
Scopus SCOPUS_ID:85210021567
DOI 10.1093/ULR/UNAE029
Año 2024
Tipo artículo de investigación

Citas Totales

Autores Afiliación Chile

Instituciones Chile

% Participación
Internacional

Autores
Afiliación Extranjera

Instituciones
Extranjeras


Abstract



This article analyses a distinctive trend in Latin American conflict laws to enable the parties to choose the Unidroit Principles of International Commercial Contracts (PICC) as the proper law of the contract since this choice must be upheld by national courts. This provides an incentive for contracting parties linked to Latin American jurisdictions to adopt updated and fair rules that are inexistent in their domestic contract laws. This trend began with the 1994 Mexico Convention and has spread to the new conflict rules on contracts enacted in Latin America and even to the 2015 Hague Principles. Nowadays, the choice of the PICC to govern the substance of a contract might be upheld in the national courts of several Latin American countries. This solution is unique since it is not allowed in most jurisdictions, such as those of the European Union, which only accept 'ordinary legal techniques' for applying the PICC. There is now legal certainty that the PICC will be applied in arbitration and litigation in these Latin American jurisdictions, either via the ordinary legal techniques or via choosing the PICC as the rules of law governing a contract subject to judicial adjudication. This benefits parties that do not have in their domestic contract law some of the PICC's solutions. Using Chilean contract law as a sample study, we will show that the PICC's rules on the pre-contractual stage and on hardship are better suited than existing national laws to negotiate, conclude, and perform international commercial contracts.

Revista



Revista ISSN
Uniform Law Review 1124-3694

Métricas Externas



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Disciplinas de Investigación



WOS
Law
Scopus
Law
SciELO
Sin Disciplinas

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Publicaciones WoS (Ediciones: ISSHP, ISTP, AHCI, SSCI, SCI), Scopus, SciELO Chile.

Colaboración Institucional



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Autores - Afiliación



Ord. Autor Género Institución - País
1 Vial Undurraga, Maria Ignacia - Universidad de Los Andes, Chile - Chile
1 Undurraga, María Ignacia Vial Mujer Universidad de Los Andes, Chile - Chile
2 Zuloaga Rios, Isabel - Universidad de Los Andes, Chile - Chile
2 Ríos, Isabel Zuloaga - Universidad de Los Andes, Chile - Chile

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Financiamiento



Fuente
Chilean agency ANID, called Proyecto Fondecyt de Iniciacion

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Agradecimientos



Agradecimiento
We would like to thank the comments we received at the Fourteenth Transnational Commercial Law Teachers Meeting held on 5-6 October 2023 at Elon University School of Law in Greensboro, North Carolina, where we presented an outline of this article. This study is part of a research project funded by the Chilean agency ANID, called Proyecto Fondecyt de Iniciacion No 11181006 on 'Preliminary agreements reached during precontractual negotiations'.

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