THE DEATH OF QUEEN ELIZABETH II: IMPLICATIONS FOR THE PRINCIPLE OF PACTA SUNT SERVANDA

Abstract

This article takes a broad look at the death of Queen Elizabeth II of Great Britain and its implications for the commercial/ economic principle of Pacta Sunt Servanda (agreements must be honoured). Queen Elizabeth II of United Kingdom died on the 8 September 2022, born in 1926; she became the Queen at the age of 25, and reigned for 70 years. She was buried on 19 September, 2022. On her death and burial so may appointments or agreements were cancelled or postponed. The day she was buried, was declared a public holiday (bank holiday) throughout the United Kingdom. The main aim of this article is to explain this unforeseen circumstance on the principle of Pact Sunt Servanda, that agreements must be honoured. Can her death act as an exception to this principle of commercial transaction?This article then goes further to discuss the principle of contract called rebus sic stantibus that seek to offer excuse for non-performance of a contractual obligation because of fundamental change of circumstance. One of the questions this paper seek to answer is that, could the death of the Queen of United Kingdom be used as fundamental change of circumstance thereby impeding the performance of a contractual obligation due on those days of her death and burial? Discussions shall also briefly touch the principle of force majure and recommendations shall be proffered.