contracts should contribute to the achievement of
the highest possible level of satisfaction of the
interests of the parties, taking into account
limited resources and opportunities. In addition,
it performs the function of reducing and
distributing risks arising from adverse
uncertainty of conditions or circumstances. The
author concluded that contracts act as a
meaningful tool for ensuring stability, balance,
and efficiency in the field of economic relations,
particularly in the context of concluding
contracts and their implementation.
Considerable attention is also paid to the study of
the process of recodification of contract law, its
essence, methodology, and principles. Proposals
for improving the legislative framework, and
creating new legal instruments and mechanisms
are being developed (Illarionov, 2020; Bilous,
2015; Dyminska, 2017; Kharytonov, &
Kharytonova, 2019; Luts, 2010; Podvirna, 2018).
Dovgert studied the recodification of the Civil
Code of Ukraine. The article examines the
problem of recodification of the Civil Code of
Ukraine (CC of Ukraine) and determines the
presence of factors and prerequisites for starting
this process. The term "recodification" is used to
describe systemic changes to an existing code (or
group of codes and laws) without creating a new
code from scratch. The author noted that one of
the main factors for the recodification of the CC
of Ukraine is the logical imitation of the further
transformation of society, in particular the
formation of a true and effective market
economy, which is a necessary component of
civil society. Ukraine is also actively striving for
integration with the European Union, which is
becoming an essential factor for reforms in all
spheres of society. The main goal of the
recodification of the CC of Ukraine is the further
"Europeanization" of the code. Another
significant factor is the global trend towards the
unification and harmonization of private law
regulation. Many countries, including Ukraine,
actively use globally applicable legal norms and
decisions developed within the framework of
international organizations for the unification of
private law. These norms-decisions are
embodied in numerous international documents.
Considerable progress has also been achieved in
forecasting the prospects for the development of
contract law. Researchers analyze trends and
changes in society, technological progress, as
well as international cooperation, particularly in
the context of harmonization and unification of
norms (Luts, 2009; Lyakh, 2014; Marusheva,
2016; Dzera, 2008; Dyminska, 2016;
Belyanevich, 2006; Omelchenko, 2013;
Osetynska, 2006; Plavych, 2017; Reznichenko,
2016).
Tertychnyi (2018a; 2018b) paid attention to the
analysis of global trends in the development of
electronic commerce in the context of
information globalization. The author analyzes
the influence of information technologies and
globalization processes on the development of
electronic commerce. It deals with various
aspects of e-commerce such as e-commerce,
e-business, e-marketing and others. The author
analyzes the main global trends in this field, such
as the growing popularity of mobile commerce,
the development of social commerce, the spread
of cloud technologies, and others. The article also
discusses issues related to e-commerce, such as
cyber security, personal data protection, legal
aspects and others. The author provides analysis
and recommendations for solving these problems
in the context of information globalization. In
general, the article by Tertychnyi offers a
detailed analysis of modern trends in the
development of electronic commerce, taking into
account global information processes. It can be
useful for scientists, researchers, students and
anyone interested in this topic.
In general, research on this topic shows
significant progress and a high degree of research
(Zazulyak, 2009; Yudin, 2017; Yavorska, 2008;
Volovik, 2013; Strybko, 2016; Reznichenko, &
Chumachenko, 2011). Continuation of work in
this direction will contribute to the further
development of contract law and the creation of
a modern, adapted and effective legal system.
Methodology
The methodology is based on a comprehensive
approach, the use of various scientific methods
and analytical tools. Collectively, this allows for
a comprehensive study of the contract law under
the conditions of recodification, to analyze
current trends, and to determine the prospects for
its future development. The main stages include:
Comparative analysis. Using a comparative
approach to study different models of
recodification and their impact on modernity and
future prospects. Different legal systems are
compared and their approaches to the
recodification and development of the analyzed
legal institute are analyzed.
Legal analysis. Application of methods of
interpretation of normative legal acts, contracts,
judicial practice, and doctrine to reveal the
essence and peculiarities of contract law in the
conditions of recodification. Legal norms are