Thursday 4 March 2010 at 1300
Comparative Law Discussion Group
Judicial Review of Penalty Clauses in Spanish Law: Convergence Towards Other European Laws?
Speaker: Ignacio Marin Garcia, Pompeu Fabra University Barcelona
Venue: Oxford Law Faculty Seminar Room C (and IECL foyer for lunch from 12.30)
Unlike the majority of European civil law systems (France, Germany, Italy, Austria, Belgium, Portugal and Switzerland), the UNIDROIT Principles and the projects for the harmonization of European Private Law (PECL, DCFR and Gandolfi Code), Spanish law only allows courts to reduce the sum stipulated by the parties in a penalty clause if the breach of contract has less entity than the one anticipated. Hence, the judicial review of penalty clauses on the grounds of equity is excluded. The aim is to analyze why this is the most desirable solution in terms of efficiency, and why Spanish law should not converge towards other European laws.
For more information please contact: Jenny Dix
Organised by the Comparative Law Discussion Group in conjunction with Institute of European and Comparative Law
