Introduction

It is widely accepted that the parties to a contract may elect to have their contractual relations governed by general principles of law. It appears particularly appropriate that the parties to an international longterm contract should have the option of submitting their contractual relationship and, perhaps even more importantly, the resolution of any ensuing disputes, to general principles of international law, in that this source of rules may prove to be well adapted to the needs of the international business community and can - contrary to common wisdom - offer greater ...