A Comparative View on Regulating the Transaction Agreement. French, German and British Law

Abstract

Over the few decades there has been a steady growth in the conclusion of the transaction contracts,given the multiple needs it responds to-it avoids long delays and high costs associated with the legalproceeding and it ensures the removal of doubt as regards the legal proceeding result. It is the purpose of thisarticle to provide a comparative analysis over the legal regulation of the transaction contract in severalEuropean member states and to examine the legal changes brought by the New Romanian Civil Code. Inorder to achieve these objectives, we have examined the national and foreign legislation and doctrine,confirmed by the case law. Therefore, this study contributes to knowledge of the defining aspects of thetransaction contract at European level, following the crystallization of the legal concept and its normativeevolution.

Keywords

• settlement
• compromise
• mutual concessions
• judgment by consent
• alternative dispute resolution