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Material Adverce Change (MAC) clauses are used to allocate supervening and unknown risk between the parties to an agreement. It allows a contract party to exit the agreement upon the occurrence of certain defined events or situations. Due to its intended purpose, MAC clauses tend to aim wide, and this may result in uncertainty with regards to its application. This paper analyses the intended effects and actual application of MAC clauses under the US, English and Norwegian legal systems.
The paper is based on the work carried out as a research assistant at the Department of Private Law, University of Oslo, as part of the research project "Anglo-American Contract Models and Norwegian or other Civilian Governing Law".
The paper is written in Norwegian and includes an extensive summary in English.
Utgitt på Institutt for privatretts skriftserie.
- 197 sider