Change of circumstances in contract law

Abstract

Described as 'one of the most interesting, and potentially most dangerous, inroads into pacta sunt servanda,' the clausula rebus sic stantibus has been recycled and revived under different terminology and names in various countries. The development of its roots is studied in Chapter I. In Chapter II and III this thesis examines the most important features of the legal institute of 'changed circumstances' in both Continental and Common Law legal systems. Chapter IV studies the little local jurisprudence which referred to the doctrine of rebus sic stantibus from the past century to date and Chapter V foresees the doctrine's future development in the light of the European Contract Law movement. By way of conclusion Chapter VI, studies whether a Maltese equivalent of what is known worldwide as the legal institute of 'changed circumstances' has existed, exists or should be proposed.