About Contractual Risks and Private Law Means of Mitigating Them

Abstract

The risks of contracts are increasing nowadays. The reasons for this are increasing economic and social uncertainties. The role of important contract law principles, such as vis maior, pacta sunt servanda, or clausula rebus sic stantibus, has changed. Judicial practice must also follow this. It is an important requirement that the parties properly assess their ability to perform when concluding the contract, and price the risks well. Institutions that ratify and insure contracts are important means of mitigating contract risks. The protection of the deposit, the penalty, the surety, the protection of the balance of the contracts, and the possibility of challenging the contract in the event of a value imbalance. In case of unfair general terms and conditions, the possibility of referring to their nullity.