ABSTRACT
The internationalisation of Australian contract law is an important consideration in a context where Australians are increasingly trading internationally, Australian law firms are merging with international firms and there is a desire to attract international litigation and arbitration to Australia. When a common law country such as Australia considers embarking upon a codification or restatement of its contract law, It has been suggested in relation to the review of Australian contract law that a restatement of principles rather than a codification of contract law would be more appropriate. Common lawyers have resisted the impost of good faith upon their contract law, citing a lack of clarity surrounding the good faith obligation. German Civil Code states that 'an obligor has a duty to perform according to the requirements of good faith, taking customary practice into consideration'. Under the UCC and the Restatement of Contracts, US law imposes an obligation of good faith, although not one extending to pre-contractual negotiations.
