This, the only book in print to focus on liquidated damages and penalty clauses, analyses the common law jurisdiction to control stipulated damages clauses, and the distinction between enforceable liquidated damages clauses and unenforceable penalty clauses. The first part examines the historical origin of the control of these clauses, the second describes the current control of such clauses and their legal effect, the third critically examines the various rationales that have been proposed to justify their regulation and the final part describes analogous provisions and how to avoid drafting contractual clauses that are rendered unenforceable by the penalty rule. The book examines approaches in several common law jurisdictions in addition to England and Wales, including the United States, Australia, New Zealand, and Canada, and brings together principles developed in distinct commercial law contexts (such as shipping contracts) to enable comparison between particular contractual settings.

This book focuses on liquidated damages and penalty clauses, and analyses the common law jurisdiction to control stipulated damages clauses, as well as the distinction between enforceable liquidated damages clauses and unenforceable penalty clauses. The first part of the book examines the historical origin of the control of these clauses; the second part describes the current control of such clauses and their legal effect, while the third part of the book critically examines the various rationales that have been proposed to justify their regulation. The final part of the book describes analogous provisions and how to avoid drafting contractual clauses that are rendered unenforceable by the penalty rule. The book examines approaches in several common law jurisdictions in addition to England and Wales, including the United States, Australia, New Zealand, and Canada, and brings together principles developed in distinct commercial law contexts (such as shipping contracts) to enable comparison between particular contractual settings.

Drafting International Contracts is an essential resource for anyone working in international business. It features the latest trends, fostering an understanding of how international contracts are drafted in practice.

Unique in its breadth, this book undertakes a comparative analysis of the ways in which legal systems in all regions of the world deal with agreed sums payable upon breach of an obligation. The book shows divergences and convergences and indicates trends as to the future development of the law. It also deals with the treatment of agreed sums under the 1980 UN Convention on Contracts for the International Sale of Goods (CISG), offering the first comprehensive solution to this issue based on comparative analysis. For practitioners as well as researchers, this book is a valuable source of information and offers suggestions for solutions to current and future issues.