Swiss Code of Obligations

The Swiss Code of Obligations (German: Obligationenrecht; French: Droit des obligations; Italian: Diritto delle obbligazioni)[1] is a portion of the Swiss Civil Code that regulates contract law[2] and corporations (Aktiengesellschaft).[3] It is divided into a general part, which applies to all contracts, and a special part, which applies to specific types of contracts, such as sales of goods or loans.[2]

The Code is governed by the principle of the freedom to contract, which includes freedom as to the content and type of the contract, and the freedom of the parties to enter into agreements which are not governed by the special part of the Code.[4]

The first version, drafted by Walther Munzinger and Heinrich Fick, entered into force in 1883, and was subsequently revised and expanded to form the Swiss Code of Obligations of 1912.[5] The first version of the Swiss Code of Obligations inspired similar legislation in Germany, Italy and Turkey.[5] The Code of Obligations was drafted in a strikingly understandable style, without many instances of abstract legal terminology, so that it could be readily understood by the common population.[5]

The Code was revised in 2011, so that in the future requirements for book-keeping and accounting will not depend on a company's legal form, but on its financial size.[6]

References

  1. ↑ "Switzerland: Federal Law of March 30, 1911 on the Amendment of the Swiss Civil Code (Part Five: Code of Obligations) (status as of March 1, 2012)". WIPO. Retrieved 7 September 2013.
  2. 1 2 "Contract Law". Swissnetwork. Retrieved 7 September 2013.
  3. ↑ "Shares". SIX Swiss Exchange. Retrieved 7 September 2013.
  4. ↑ "Organization And Sponsoring Of Sport Events" (PDF). Niederer Kraft & Frey. Retrieved 7 September 2013.
  5. 1 2 3 "Celebrating 100 Years Swiss Code of Obligations – a brief history of a remarkable codification" (PDF). University of Fribourg. Retrieved 7 September 2013.
  6. ↑ "All changes to the Swiss Code of Obligations at a glance" (PDF). PwC. Retrieved 7 September 2013.

External links

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