Gentleman Agreement Deutsch

Undertakings which as a whole have a dominant position enter into price cartels, thus excluding free market forces in price formation to the detriment of the consumer. Concerted practices are prohibited by German and European anti-dominant law (Art. 1 GWB and Article 101(1) TFEU). [8] Separating from the gentlemen`s agreement are contracts concluded orally, which are in principle legally binding in all their elements, but whose content is often not proven in the event of a dispute. In this respect, the agreement concluded by handshake has a social duty of execution. The international diamond trade is an example of this. The trade in precious stones worth millions of dollars is often agreed by a handshake. When a contractor does not comply with his obligations, he is ostracized and excluded within this elitist group. The debtor is expected to behave like a gentleman that should not be legally enforceable. [9] A gentlemen`s agreement is only a moral but not legally binding agreement, i.e. a bulk agreement. [1] The agreement is based on good faith[2] and most often on mutual trust.

[3] Statements are made without legal will, because the desired success must be achieved by relying on the partner`s word or by granting it to decency. [4] [5] This is an example of so-called soft law,[6] which exists in both private and public law, particularly in international law. . . .