The Seller’s Right to Cure under Article 48 CISG (International Commerce and Arbitration)

Allegedly, contracts are enforceable mutually beneficial agreements. In the event of a breach of contract, most national and international legal systems-including European harmonization projects on private law-resort to cure regimes for the furtherance of contractually generated welfare. A Nachfrist-mechanism, a hierarchy of remedies, and debtor’s rights to cure are all normative devices intended to preserve contracts and to sequence the remedies for breach by employing those that are purportedly more cost-effective. The utility of these legal institutions lies at the core of the discussion about modern contract law and practice. In this book, one cure-oriented legal instrument is thoroughly analyzed: the seller’s right to cure after the date for performance under Article 48 CISG. (Series: International Commerce and Arbitration (ICA), Vol. 26) [Subject: Commercial Law, Private Law]