The Extinctive Prescription: the Solutions of the Romanian Civil Code and the UNIDROIT Principles Applicable to International Commercial Contracts
The Extinctive Prescription: the Solutions of the Romanian Civil Code and the UNIDROIT Principles Applicable to International Commercial Contracts

Summary/Abstract: Bringing a civil action before a court is a means of achieving the legal protection of the rights of natural and legal persons. The security and stability of civil legal relations have imposed a legal time limit within which the holder of the right must act legally to defend his right. The failure to comply with such a legal time limit entails the mechanism of extinctive prescription. The institution of the extinctive prescription is regulated in all national legislations, as well as international conventions governing the relations of international trade law. The UNIDROIT Principles applicable to international commercial contracts establish numerous rules on limitation periods.

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