A Model Global Law Contract Code (GLOC)
The hypothesis that there is a common body of general rules of contract law (see Concordance) leads naturally to the idea of its expression in the form of a Code. This might well prove to be the most effective pathway to transnational harmonization of contract law.
We have embarked on drafting a Model Global Law of Contract (GLOC) of 50-75 Articles based on rules of contract law identified as common to Australian law and the four Codes included in the Concordance.
It is our hope that GLOC could be a first step on the long but necessary road to the international promulgation of a Model Global Law of Contract to which states around the world can accede.
We plan to post the draft GLOC on this site in early 2010.