On The Application Of The Rules Of Change Of Circumstances

There are total six parts including preface as chapter 1 and the conclusion as chapter 7. The article introduces the concept of clausula rebus sic stantibus and its historical evolution and concerned theoretical basis in civil law countries and common law countries. According to the second judiciary interpretation of contract law adopted by supreme court , based on the following parts such as the foundation of application , conditions of application , procedure of application , the effect of the clause of clausula rebus sic stantibus , it comprehensively states the application rules of clausula rebus sic stantibus by means of analyzing cases , directly putting abstract theory rules into judicial practice.At the same time , under the context of global financial crisis ,taking kiko contract case happened in Korea an example , suggests that we should carefully apply rules of clausula rebus sic stantibus distinguishing between specific market , specific deal and specific contract . Differentiating the distincition between clausula rebus sic stantibus and force majeure and commercial risk , put forward the specific standard of application in judicial practice. According to effective judiciary interpretation and concerned regulations , summarized the procedure and effect in the application of clausula rebus sic stantibus ,to form a complete application system of rules.