The Need Of Reform Of The Prescription in Spanish Contract Law (La Necesaria Reforma De La Regulación de la Prescripción Extintiva En El Derecho Contractual Español)

Abstract

This article deals with the necessity of an urgent reform of the law of prescription of contracts in Commercial Law in Spain, to preserve the unity of the Spanish market, once the Civil Code of Catalunya is in force, and taking into account that Navarra and other Autonomous Communities can pass Acts as developed, modern as the Catalan Civil Code and so different from the Spanish Civil Code. In fact, there is a draft of reform in the Spanish General Commission of Codification that will update the law of prescription in contracts. This article also compares this draft with the UNIDROIT Principles (in which it has been inspired) and the Spanish Civil Code to conclude that it needs only slight corrections should be made.