French model of contractual preemptive rights: tradition, development and prospects of reception by Russia
Abstract
The Russian Civil Code provides mandatory regulation of the preemptive rights by means of an exhaustive list of their grounds established by the law. This creates an illusion that the preemptive rights cannot be stipulated by a contract. An opposite position can be proved by the principle of the freedom of a contract and the economic efficiency of law. According to the latter approach, the preemptive rights should be provided only if market participants are interested in obtaining them. Due to the objective impossibility to simulate the entire system of economic relations, the legislator cannot foresee all situations when the preemptive rights can be needed. Moreover, the preemptive rights stipulated by the law often do not correspond to the market participants’ interests and impede business transactions significantly. Therefore, the contract should be accepted as the most effective means of regulating the preemptive rights. The conclusion made can hardly make the concept of the contractual preemptive rights more attractive in Russia. It can be explained by the impossibility to protect them using the most efficient means, that is the claim for reverse of the rights and duties of the counterparty under the contract with the breaching counterparty to itself. Experience of foreign countries could be useful to solve this problem. The French approach is one of the most interesting for Russia because the French legislator has also not accepted the concept of the contractual preemptive rights before. However, later their contractual model was formed by the Cassation Court of France. The developed concept led to a wide discussion while reforming the French law of obligations which ended in October 2016. As a result, the new version of article 1223 of the Napoleonic Code states that the preemptive rights can be established by a contract. The article examines the legal nature of this type of contracts as preliminary ones, specific features of protection of the contractual preemptive rights (e.g., the possibility of invalidating the contract concluded in breach of the preemptive rights), as well as the novel of the Napoleonic Code, that is the institute of inquiries which enables to ensure the effect of the contractual preemptive rights against third parties.
Keywords:
contractual preemptive rights, reform of the Napoleonic Code 2005–2016, current reform of the Russian Civil Code
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