SHORT-RUN CONTRACTS ON EUROPEAN UNION MARKET AND GOOD FAITH PRINCIPLE IN THE REALITY OF GEORGIAN ECONOMY

Abstract

  How are transactions conducted on Georgian consumption market and the European Union internal market? During exportation of some agro products from Georgia to the EU it was found out that relevant trade habits in making a deal varies greatly for the ‘two Economies’ and the difference is significant. Apparently, this makes an issue for present-day commerce and, presumably, the disparities, which have just been noted, risk to pose a serious threat to trade relationships between the two economic Units. Therefore, this Article aims at looking around the differences. I will attempt to explain the flexibility of the contemporary ‘simplified-type transactions’ conducted in the EU, characterized by disappearance of traditional formal stages of contracting (negotiations, contractsigning, etc.). In this Article, I will also show out that these relationship-building (stemming from the ‘brand-new transactions’) is more consecutive, logical and dynamic, leaving less room for the breach of a contract or principle of good faith.