Prof Dr Veneziano was selected by Prof Dr Christina Ramberg, the fourth speaker of the Ole Lando Memorial Lecture.
In her speech, Veneziano discussed whether the unification of private and commercial law by treaties is still a viable option, noting that treaties are increasingly difficult to negotiate and to be adopted. Among other challenges she also mentioned their difficult post-adoption implementation as well as the lack of flexibility and adaptation to national circumstances. In her view, however, there are several factors that increase the chances of the successful adoption of commercial law treaties, such as a sectoral approach, or the strong backing of industry stakeholders and strong policy interests of governments. Nevertheless, Veneziano observed a trend towards the development of soft law instruments which, in her view, are easier to negotiate and approve and easier to modify after approval, if needed.
Among their advantages she observed that soft law instruments may offer detailed legislative guidance with limited flexibility and without recourse to a diplomatic conference. They may therefore be better targeted to direct use by potential addressees and may ensure more flexibility in being implemented in different economic, social and legal contexts.
Veneziano then presented her views on how to ensure the effectiveness of soft law instruments. In her view, the key to inclusive and practice-oriented development is the early involvement of industry stakeholders in preparatory work and as observers through existing (global) representative associations/bodies. She added that this also facilitates successful implementation.
The lecture was followed by a lively Q&A session in which Veneziano addressed several questions, including on how UNIDROIT chooses which areas to harmonise, and on the need to innovate with regard to procedures of adopting conventions, among others.
The Ole Lando Memorial Lecture series was launched in 2019 in memory of the Danish lawyer Ole Lando (1922–2019). Lando was a Founding Member of ELI, a professor and a leading private international lawyer. Among many achievements of his long and varied career were the ‘Principles of European Contract Law’ which have been highly influential in the development of both EU and national contract laws.
Attendees of the above webinar watched a special video to commemorate Ole Lando, which you can see here.
Read more on previous Ole Lando Memorial Lectures:
