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The good faith principle in contract law and the precontractual duty to disclose: comparative analysis of new differences in legal cultures

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  • Alberto M. Musy

Abstract

The purpose of this paper is to delineate new similarities and future differences between legal systems, using pre-contractual liability and good faith. Instead of focusing on the differences between common law and civil law, we focus our attention on the gap between Europe, England included, and United States. All over Europe, under the influence of good faith jurisprudence, duty to inform has been extremely broadened. Contemporary debate confirms that European Legal Academia overemphasizes the importance of the quest for central common principles of European private law, like Good Faith and obligation de renseignement, and ignores questions regarding cost-benefit effects of disclosure, parties informational rent seeking and general policy considerations. A stereotyped legal doctrine, concentrating on the influence of EU directives on national legal system and, in some cases, unification as a forthcoming national-positive law can create an undesirable effect in the creation of future case law.

Suggested Citation

  • Alberto M. Musy, 2000. "The good faith principle in contract law and the precontractual duty to disclose: comparative analysis of new differences in legal cultures," ICER Working Papers 19-2000, ICER - International Centre for Economic Research.
    • Handle: RePEc:icr:wpicer:19-2000
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    File URL: http://www.bemservizi.unito.it/repec/icr/wp2000/Musy192000.pdf
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