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The consequences of Brexit for existing and future commercial contracts

Renaudin, Muriel ORCID: 2019. The consequences of Brexit for existing and future commercial contracts. Amicus Curiae 112 , pp. 2-9. 10.14296/ac.v2017i112.5040

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This paper proposes to discuss and evaluate the legal consequences of Brexit for the legal framework regulating cross-border commercial transactions for the United Kingdom. What Brexit means for the law governing transnational commercial contracts depends on the model legal framework which will be adopted between the European Union and the United Kingdom. Until an agreement is reached as to the shape of this new regulatory framework for cross-border commercial transactions with Europe, commercial actors may be confronted with legal uncertainties vis-à-vis performance and enforcement of their existing and future commercial agreements. This paper thus attempts to evaluate the consequences of Brexit on legal issues such as performance, jurisdiction and enforcement of contracts. Given that we already know the consequences of Brexit if the UK decides to maintain membership to current trade agreements, this paper proposes to discuss the impact of Brexit on commercial contracts in the event of a "no deal' scenario, that is a situation where all current EU trade and judicial cooperation agreements would cease to apply to the UK upon leaving the EU. The paper argues, from a legal perspective, that continued membership of current European Union trade agreements and judicial cooperation agreements would maintain predictability, security and efficiency in the performance and enforcement of transnational commercial contracts within Europe.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Law
Publisher: Institute of Advanced Legal Studies
ISSN: 2048-481X
Date of First Compliant Deposit: 30 April 2020
Last Modified: 06 Nov 2023 18:26

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