6 steps in negotiating leagal framework: slides

Main difference between Anglo-American law & Continental law: Continental one is fully
codified, Anglo-American is based on cases and precedents

Main characteristics of Continental Law:

- Consistency & uniformity of enforcement
- Predictable
- Brief
- Codified
- Nationally accepted

Main characteristics of Anglo-American law:

- Justice in individual case
- Non predictable
- Long & detailed
- Internationally accepted

What does the applicable law govern?

Questions relating to its formation, validity, interpretation or performance

Principles of an enforcable contract:

- Parties achieve a meeting of mind referring to mutual agreement
-

Entire agreement = the final written ver of the contract replaces all previous agreement between
the parties

Whereas Recital = bg of the contract. Important bc when dispute arises, thư judge must ask some
bg questions
Discharge by performance = both parties perform their duties exactly according to the contract
and the last duty is fully performed

Termination = one side may have the right under the contract to end contract, no breach. 2 types:
Termination for convenience, termination for default.

Cancellation = 1 party breaches the contract and other refuses to proceed

Recission = both agree to end the contract

Settlement of disputes: conciliation, litigation, arbitration

A panel of arbitration = 3

No contract situation: no meeting of mind, revocation, incapability of entering the contract,

illegal purpose, ultravire, 1 sided contract

When a contract does not specify a law, the rules of international private law shall apply.

What does the arbitration clause specify?

- How many arbitrators
- Where
- Language
- Cost (rules of arbitration)

Why do parties agree on a definite language contract? To have a clarity