Free International Business and Law Essay Sample
ARBITRATION CLAUSES, many contracts contain clauses requiring that disputes be submitted for arbitration because it removes much of the uncertainty in the event of a breach of a contract or other dispute. (P, 77 august).The clause facilitates easy disputes solution arising in the course of the contract. TERRETORIAL JURISDICTION.Is the power of criminal courts to hear cases involving crimes committed within their territory. (P, 80 agusti).It is given the authority to deal with legal matters and administer justice within a given area. DIVERSITY OF CITICENSHIP JURISDICTION is a form of subject matter jurisdiction in civil procedure in United States and citizen of foreign countries. (P, 80 agusti).its gives citizens of different states a certain privileged authority beyond other citizens.
MINUMUM CONTACT DUE PROCESS requires that in order to subject a defendant to judgment in personam, if is not present within territory of forum; he has certain minimum contact with it. (P, 80 agusti). Protects the defendant in a foreign state or country from making regular appearances in courts. SERVICE OF PROCESS, a court must have personal jurisdiction over the defendant before they can be made appear and defend a civil case. (P, 82 Agusti). Since the court is an independent body, it needs an authority to file a case against the defendant.
FORUM SELECTION CLAUSES fixes in advance the jurisdiction in which any disputes will be arbitrated or litigated. (P, 90 Agusti). The clause helps to identify the category of the dispute and the section of the law to be dealt with. CONFLICT OF LAWS is the rules by which courts determine which jurisdiction law apply to a case and how differences between laws will be reconciled. (P, 92 Agusti). Two different rules can be applied in a case differently. A CONTRACT. In the absence of an agreement by the parties, contracts should be governed by the law of jurisdiction, (p, and 92 agusti). In this case it's an agreement between two or more parties that is lawful and enforceable. WHAT IS A TORT? Torts such as libel, and others, should be governed by the law of the place where the injury or damage occurred.(p,93 agusti).Thus it's any wrong doing that can be applied in the court of law for arbitration.
CHOICE OF LAW CLAUSES are contract provisions that stipulate the country or jurisdiction whose law will apply in interpreting the contracts or enforcing its terms.(p,93 agusti).The laws of different states are subjected to selection in order to pick the suitable one to apply in the contract. CIVIL PROCEDURE a party who intends to raise an issue concerning the law of a foreign country shall give notice by pleading or other reasonable written notice. (P, 93 agusti). A person should provide justifiable reasons when he wants to raise an alarm against certain unsuitable rules in another country. AN INJUNCTION. U.S.courts has the power to enjoin a party over whom they have jurisdiction from bringing a lawsuit in a foreign country, (p, and 96 agusti). The defendant is lock of running away from responsibilities on a crime committed in one country and seeking refuge in another.
CONVENTION ON CONTRACTS FOR THE INTERNATIONAL SALES OF GOODS, is an agreement between nations that is binding once the legislature of country adopts it, then becomes a part of the country's domestic law, (p, 110 agusti) A countries signs an agreement that facilitates the sale of goods and makes use of them domestically.U.S. FEDERAL PREEMTION It appears that issue of whether or not the cisg preempts state law is a matter of first impression. (P, 112 Agusti). This clause requires that incase there is a crush between other laws and the state law, the state law should be given first priority. INTERNATIONAL SALES CONTRACT. Under the common law a valid contract is an agreement that contains all of the essential elements of a contract.(p,113 agusti).It's an agreement between nations on trade that is legal and enforceable. ILLEGEAL CONTRACT.A void contract is of no legal effect and will not be enforced by the court. (P, 113 agusti).It's a n agreement between different parties that is unlawful and cannot be enforced.
THE BASIC ELEMENTS OF AN ENFORCEABLE CONTRACT. a) it is an agreement between the parties entered into by their mutual assent's) the contract must be supported by legally sufficient consideration's) the parties must have legal capacity's)the contract must not be for illegal purposes.(p,113 agusti). They are the major requirements of a contract that is considered to be valid and enforceable before the law. CUSTOMS, PRACTICES, AND TRADE USAGES, TRADE USAGES are derived from the customs of industry, the practices of merchants in their past dealings, and the usage of trade terminology and language.(p,116 agusti). They are thus the beliefs that are experienced and done in the exchange of goods and services. REVOKING AN OFFER. Can be revoked at any time prior to acceptance. As between merchants; an offer may not revoke if it is made in signed writing. (P, 117 agusti). It's thus the rejection of an offer made by the offeree when he is not interested or when its requirements are not clearly stated.
PERFORMANCE OF SELLER UNDER THE COMMON LAW, a contract is formed when the acceptance is dispatched by the offeree. In the case of acceptance by the letter, the time of dispatch is the time when the letter is put into hands of the postal authorities and delivering the goods (p 118 agusti). The clause requires that the time of delivery and the means of delivery should be of the form that is reliable. PERFORMANCE OF BUYER, if a buyer submits a purchase order to seller, a contract is formed upon the dispatch of the seller's order confirmation. (p 119 agusti). This shows that the buyer's performance is complete on releasing the seller's confirmed order. BUYER "INSPECTION" The goods conform the satisfaction of the buyer, if it is confirming the contract, quality and quantity.(p 123 agusti). It's thus the checking of the goods received by the buyer to see if they are the right ordered. NOTICE OF NON-CONFORMITY. If the shipment is nonconforming, most legal system s requires that notice be given by buyer to seller in the event of the breach. (P, 130 Agusti). It's information from the buyer to the seller indicating the rules stipulated in the contract have been violated.
FUNDAMENTAL BREACH, A buyer's right of rejection of defective goods under the ucc is somewhat broader than buyer's right to avoidance under the cisg.(p,131 agusti).this clause affords the buyer the right to reject the delivered to him incase this goods are defective. SELLER'S RIGHT TO REMEDY, a seller who has delivered some goods to the buyer prior to the delivery date, even if the goods are nonconforming or shipment is not complete, has the chance of remedy, also called cure.(p,133 agusti).The clause guarantees the seller some compensation on goods delivered early and rejected by the seller.
PRICE REDUCTION, one solution for the buyer in the event that the seller makes only a partial shipment, or if the goods are nonconforming, is that of price reduction. (P, 134 agusti). Price reduction compensates the buyer the losses incurred due to partial delivery of goods ordered by the seller through reducing the price from the previous one. MONEY DAMAGES, in breach of contract cases, the usual remedy granted by common law courts is the legal remedy of the money damages.(p,134 agusti). In this case damages are valued in monetary value and pay to the affected party in case of a breach of contract. CONSEQUENTIAL DAMAGES, if the buyer has not purchased substitute goods damages are measured by difference between the contract price and the current market price. (P, 134 Agusti). This occurs in a case where the delivery of the goods continuous to take longer time than expected and the buyer needs compensation for the loss. SPECIFIC PERFORMANCE is used when a court requires a party to the contract to perform, or carry out its part of the bargain. (P, 139 agusti), in this case there are different parties to the contract and each has a separate portion of the contract to fulfill.
ANTICIPATORY BREACH occurs when one party clearly sees that the other party contract either will not perform substantial part of its obligations, it will commit a fundamental breach.(p,138 agusti). in this case one party foresees the failure of another party in fulfilling his part of the contract. IMPOSSIBILITY OF PERFORMANCE, a court may excuse a party's nonperformance where it becomes objectively impossible for it to perform. The courts hold that it must be impossible for anyone to perform.(p 139 agusti). a contract may be impossible to perform due to natural or man-made factors, thus exempting the other party. FRUSTRATION OF PURPOSE, a party's performance could be excused if some unforeseen event occurred that frustrated the purposes of the contract. This event called frustration of purpose. (P, 139 agusti).in this case there is un-anticipated disruption of the performance that stops it from taking place.