MODERN DEVELOPMENT DİRECTİONS OF CONTRACT LAW

Abstract

The article discusses the modern development directions of contract law at the international level, its features, specific aspects in individual legal systems and countries. In the process of development of contract law of various legal systems, a number of issues (directions) of legaltheoretical and practical importance have arisen. Understanding these directions has not only broadened the views and ideas on modern contract law, but also helps to more competently solve existing problems in the conclusion and implementation of economic transactions. As one of the most important elements of free economic relations, the contract and the mechanism of legal regulation related to it are also constantly developing. The study discusses the emergence of new types of
contracts and their examples reflected in international acts, precisely in accordance with the dynamic development and diversification of modern economic (entrepreneurship) activity. References are made to international and foreign experience and legislative examples in connection with the study of the topic. Thus, during the research, international documents such as the
Principles of International Commercial Contracts (UNIDROIT Principles), the Vienna Convention on Contracts for the International Sale of Goods, documents on the European Union (EU), the General Agreement on Trade in Services of the World Trade Organization (WTO), and relevant legislation of countries such as the USA, Azerbaijan, England, and Russia were reviewed.