Abstract
Purpose – The purpose of this paper is to present a critical analysis of the concept of 'change of circumstances' as a justification for judicial revision of contracts.
Design/methodology/approach – The study analyses international legal texts on the subject in the light of a decision of the Inner House of the Court of Session in Scotland, Lloyds TSB Foundation for Scotland v. Lloyds Banking Group plc [2011] CSIH 87 (currently subject to appeal to the UK Supreme Court).
Findings – Whatever the merits of a change of circumstances doctrine, the Lloyds case does not provide a good example for its application.
Research limitations/implications – The scope of a change of circumstances doctrine should be tested by further comparative study.
Originality/value – This is the first consideration of the Lloyds case in an international and comparative context.
Design/methodology/approach – The study analyses international legal texts on the subject in the light of a decision of the Inner House of the Court of Session in Scotland, Lloyds TSB Foundation for Scotland v. Lloyds Banking Group plc [2011] CSIH 87 (currently subject to appeal to the UK Supreme Court).
Findings – Whatever the merits of a change of circumstances doctrine, the Lloyds case does not provide a good example for its application.
Research limitations/implications – The scope of a change of circumstances doctrine should be tested by further comparative study.
Originality/value – This is the first consideration of the Lloyds case in an international and comparative context.
| Original language | English |
|---|---|
| Pages (from-to) | 300-05 |
| Number of pages | 6 |
| Journal | Journal of International Trade Law and Policy |
| Volume | 11 |
| DOIs | |
| Publication status | Published - 2012 |