Repositorio
A Commentary on the Meaning of Objective Good Faith in the Translex Principles through International Arbitration: a Law & Economics Approach
Título
A Commentary on the Meaning of Objective Good Faith in the Translex Principles through International Arbitration: a Law & Economics Approach
Código de publicación
- AD-00030
Autores/as
- Santiago Dussan Laverde
Clave
- Artículo de investigación
Colaboradores/as
Claves o descriptores
- Objectivegood faith; transnational commercial law; New Law Merchant; international arbitration; opportunistic behavior.
Descripción
- Despite its numerous enunciations, the meaning of objective good faith remainsobscure. The usual manner in which legal scholars have attempted to provide for such meaning is by presenting a definition of the general principle of good faith into more general principles, such as fairness. Objective good faith, as presented in the Translex Principles does not escape from this problem. This theoretical reflection attempts to provide for such a meaning in this particular codification. This will be achieved by means of the findings of economic institutionalism, paying attention to the transactioncosts that potentially arise in context of wide information asymmetries, at which point, it is the objective of institutions to reduce said asymmetry. In international commercial transactions, opportunistic behavior is ripe. There is a demand for a legalinstitution that is able to, directly or indirectly, curtail opportunistic behavior, which from the standpoint of legal studies is equated to bad faith. In this sense, objective good faith is identified with a general legal institution, the aim of which isprecisely to limit opportunistic behavior. From it more specialized legal institutions are born, its concretization being possible partly possible by the practice of international arbitration, contributing thusly to transnational law.
Localización
- (RECHTD)13(2):164-179
Revista | libro
- Revista de Estudos Constitucionais, Hermenêutica e Teoria do Direito
Idioma
- Inglés
Editor
Año de publicación
- 2021
Formato
- Digital
Identificador (ISBN/ISSN)
DOI o URI/URL
- DOI: https://doi.org/10.4013/rechtd.2021.132.03
Derechos
- Abiertos
Fichero
- Disponible