International Commerical Practice Series Analyzing Common Law Contracts Mondays, September 22 - Nove 2025

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A commercial contract is a legally binding document setting out the terms of a commercial deal between two or more parties. It will deal with the parties risks, the consequences of a party breaching its obligations and what happens if things go wrong.
Citation Data MLA. Oser, David. The UNIDROIT Principles of International Commercial Contracts : a Governing Law? Leiden :Martinus Nijhoff Publishers, 2008. APA. Oser, David. ( 2008). Chicago. Oser, David. The UNIDROIT Principles of International Commercial Contracts : a Governing Law?
At the core of international contract law is the principle that parties have the general freedom to enter into contracts with one another. The freedom allows businesses to negotiate terms that best suit their needs and objectivesincluding with counterparties that are located across an international border.
The UNIDROIT Principles are a neutral and widely exhaustive set of rules which parties may find easier to settle on than any given national law. As a soft law instrument, UNIDROIT Principles are not binding upon parties of a contract, unless they expressly agreed to it.
The CISG is thus part of the legislative arsenal of a State contrary to the Unidroit Principles. The main rules governing the law of sales are contained in the CISG but the CISG must be interpreted and gaps must be filled in for all the topics which are not dealt with, in the CISG.
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The UCC requires contracts for the sale of goods for $500 or more to be in writing, but the CISG has no such general writing requirement. The UCC applies to merchants and nonmerchants, but the CISG applies only to merchants.
The UCC requires any contract over $500 to be in writing. This is referred to as the statute of frauds. On the other hand, the CISG does not require a contract to be in writing; it allows for oral Page 5 DR. GIZEM ALPER IICL- Institute of International Commercial Law 4 contracts of any amount.
While CISG provides a set of international laws that govern the formation and performance of contracts for the sale of goods, Incoterms provide a set of standardized commercial terms that help to define the rights and obligations of buyers and sellers for issues related to the shipment of goods.

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