1. International Contracts Lecture 4
Case 4
Matti Rudanko

2. Lecture 4: Slides Slide sets: 5, 6, 7, 8
(Sales contract, choice of law, limitations of liaibility, liquidated damages)
International Contracts Lecture 4

3. Search of Regulation Material
Links to Finnish legislation translations :
The Finnish Sale of Goods Act:
The Finnish Contracts Act:
CISG:
Unidroit Principles:
Links to EU legislation: (by indicated search keys, e.g. document number)
International Contracts Lecture 4

4. Case: Limitation of Liability Clauses, Liquidated Damages
Task:
1. International Dimension: Choice of Law
2. Breach of Contract Types: Delayed Performance
3. Damages Liabilities in Sales Contracts
4. Limitation of Liability Clauses, Liquidated Damages
4. Optimization of Contract

5. Other Material and Further Reading
Exam textbook: McKendrick, Ewan : Contract Law (9th edition, Palgrave Macmillan), especially Ch. 11, Ch. 20 and 21.5
Exam textbook: Murray, Carole, Holloway, David, Timpson-Hunt, : Schmitthoff s Export Trade: The Law and Practice of International Trade, Ch 8 (Liquidated damages and penalties)
Please make use of your knowledge of IB, Finance, Logistics, and other business economic or legal know how
International Contracts Lecture 4

6. Possible Tasks and Questions
Please account for the:
1. International Dimension: Choice of Law
2. Breach of Contract Types: Delayed Performance
3. Damages Liabilities in Sales Contracts
4. Limitation of Liability Clauses, Liquidated Damages
4. Optimization of Contract view (Law and Economics and Contract Law views)
International Contracts Lecture 4

7. Topics and Issues System of Contractual Liabilities
Types of breaches of contract, especially delayed performance
Legal remedies
Contractual Damages Liabilities, Legal Model
Damages liabilities in law: defective goods, delays
Restrictions of legal liability, especially:
Control liability
Agreed Liability Rules
Limitation of liability clauses
Liquidated damages (cf. Penalties)
Optimization of Contract
Law and Economics
International Contracts Lecture 4