The renegotiation of term commodities contracts in times of calamity as implementation of justice

Abstract

The renegotiation of forward contracts for goods in times of calamity is analyzed as an implementation of justice. Such a study is relevant due to doctrinal and jurisprudential resistance regarding the renegotiation; resistance that is based on the negative economic effects of renegotiation and that these must be internalized by the debtor. However, as will be seen, the dogmatic basis of the interpretation of contemporary legal transactions implies good faith and the duties associated with it, which translate into the duty to renegotiate when unpredictable events break the basis of the legal transaction. It is for this reason that it is necessary to analyze the political, economic context and the philosophical basis capable of giving legitimacy to the institute of renegotiation of the contracts. This is because the globalization of the economy leaves a void of legitimacy for public law, however, private law, despite positioning itself as an instrument of practical reason, does not exist to subjugate itself to the market, but rather to achieve social justice in terms of morality of actions expected by reason. All this with the methodological procedure of bibliographical research, with the review of works by contemporary authors who focused on the effects of globalization on law and the consequences for private law, on the sociological foundation of normative authority, as well as on the theory of violation of the foundation of legal transaction as a legal instrument for the legitimacy of the renegotiation of the aforementioned contract, despite the jurisprudential resistance presented, all based on the deductive method. The study has a critical theoretical character and is expected, in the end, to assist in the debate on the topic.