1887

n Journal for Juridical Science - The case for economic hardship in South Africa : lessons to be learnt from international practice and economic theory

USD

 

Abstract

Although most leading legal systems provide for some form of legal relief in the case of economic hardship, South African law still does not address the issue of changed circumstances beyond that of objective impossibility or where the parties have provided for these instances contractually. Scholars have argued for an expansion of the doctrine of supervening impossibility in exceptional cases. However, the courts have to date not made any pronouncements in this regard. This article argues that a new default rule should be adopted that will reduce transaction costs and facilitate international trade. It is suggested that such a rule should build on the existing requirements set for the doctrine of supervening impossibility, but at the same time fuse international practice with the rules of economic theory.


Alhoewel die meeste prominente regstelsels wel voorsiening maak vir een of ander vorm van regshulp waar prestasie ekonomies ongerieflik word, spreek die Suid-Afrikaanse reg, buiten vir gevalle waar prestasie objektief onmoontlik word of waar die partye kontraktueel daarvoor voorsiening gemaak het, steeds nie die kwessie van veranderende omstandighede aan nie. Sommige skrywers argumenteer dat die leerstuk van onmoontlikwording wel in uitsonderlike gevalle uitgebrei kan word om vir hierdie omstandighede voorsiening te maak. Tot op datum het die howe egter nog nie hieroor uitspraak gelewer nie. Hierdie artikel doen aan die hand dat 'n nuwe verstekreël ontwikkel word om transaksiekostes te verminder en internasionale handel te fasiliteer. So 'n reël kan bou op die bestaande vereistes vir die leerstuk van onmoontlikheid van prestasie, maar terselftertyd ook internasionale praktyk en die beginsels van die ekonomiese analise teorie daarby betrek.

Loading

Article metrics loading...

/content/juridic/36/2/EJC122977
2011-01-01
2016-12-04
This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error