Regulatory Contracts and Framework Contracts in Contemporary Private Law

Abstract

Freedom of contract allow the parties to design the legal instruments that will govern their business relationship. They may employ the usual contractual types provided by law but also can create tailor made solutions for their particular transaction. Parties can also agree on a method and on different stages in the formation of their contract, starting from the initial negotiations until the final execution of the contract. Normative contracts and the framework agreements are used nowadays as means to organize economic transactions. They have been studied by the legal doctrine but there is no consensus around their meaning, legal nature and effects. This paper examines these special agreements and reflects on their advantages and problems.