Divergent Views Recognized within the CISG Itself Sample Clauses

Divergent Views Recognized within the CISG Itself. The treatment of specific performance within the CISG demonstrates a clear recognition of the fundamental differences between the two legal systems with respect to a basic principle underlying contract remedies—the civil law favors performance, while the common law is neutral as between performance and compensation for non-performance. To the extent there is any question as to the application and effect of Article 4 as excluding from the CISG any question as to the validity of a penalty clause, Article 7(2) directs us to the general principles underlying the CISG. We find such a principle recognizing this fundamental difference between the civil and common law in the interplay between Articles 46, 62, and 28.89 Articles 46 and 62, essentially, adopt the civil law approach to specific performance. However, Article 28 limits the application of either in instances in which a common law enforcing court would not order specific performance under its own law.90 The Secretariat Commentary to what would become Article 4691 not only notes the limit provided through Article 28, but also specifically notes the similarities between the legal remedy of specific performance and a contractual penalty clause used as a deterrent to breach.92 The Commentary goes on to note that such a “penalty clause” is “invalid” in many legal systems, and that nothing in CISG Article 46 has “the effect of making such clauses valid in those legal systems which do not otherwise
AutoNDA by SimpleDocs

Related to Divergent Views Recognized within the CISG Itself

  • Change in Effective Control of the Company A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change of Control; or

  • LOCATION WITHIN ENTERPRISE OR REINVESTMENT ZONE At the time of the Application Approval Date, the Land is within an area designated either as an enterprise zone, pursuant to Chapter 2303 of the TEXAS GOVERNMENT CODE, or a reinvestment zone, pursuant to Chapter 311 or 312 of the TEXAS TAX CODE. The legal description, and information concerning the designation, of such zone is attached to this Agreement as EXHIBIT 1 and is incorporated herein by reference for all purposes.

  • Change in Control of the Company For purposes of this Agreement, a “Change in Control of the Company” shall be deemed to have occurred if:

  • Actions Permitted without Express Authority The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable Portfolio:

  • Political Activity Prohibited a. None of the funds, materials, property or services provided directly or indirectly under this contract shall be used for partisan political activity.

  • Technical and Organizational Measures The following sections define SAP’s current technical and organizational measures. SAP may change these at any time without notice so long as it maintains a comparable or better level of security. Individual measures may be replaced by new measures that serve the same purpose without diminishing the security level protecting Personal Data.

  • Material Transactions or Affiliations Except as disclosed herein and in the IACH Schedules, there exists no contract, agreement or arrangement between IACH and any predecessor and any person who was at the time of such contract, agreement or arrangement an officer or director. IACH has no commitment, whether written or oral, to lend any funds to, borrow any money from, or enter into any other transaction with, any such affiliated person.

  • CALAMITY DAYS 1. All employees shall be paid their appropriate rate of pay for all days or a part of a day when schools in which they are employed are closed owing to an epidemic or other public calamity such as, but not limited to, severe weather conditions (O.R.C. 3319.081(G)).

  • Resignation from the Company without Good Reason Executive may resign Executive’s employment with the Company for any reason other than Good Reason or for no reason.

  • Termination of the Company Upon the voluntary termination of the Company upon the consent of the Members, the sale or other transfer of all or substantially all of the Company's assets or any other termination of the Company in accordance with the provisions of this Agreement, the Company shall wind up its affairs and shall then be liquidated as provided in Article 13.

Time is Money Join Law Insider Premium to draft better contracts faster.