INTERNATIONAL CONTRACT LAW:
An agreement made between two or more parties who promise to perform or to not perform specified acts, which agreement creates for each party a legal duty & the right to seek a remedy for breach of that duty. It falls under the category of civil law (concerning relations between individuals or companies), although the state courts may intervene to settle dispute between conflicting parties. In a dispute over a contract the person who has suffered loss (a plaintiff) may bring a claim for money compensation ‘damages’ or a range of other remedies against the defendant governed by the law of the country who carries out performance of the contract, unless specified in the contract.
In the basic transaction of buying / selling goods, at least one of the contracting firms will find its rights
governed by foreign law, adding to the legal risk in a number of ways.
1. The distance and unfamiliarity of the law and the cultural environment.
2. The danger of what contract law in the foreign jurisdiction stipulates.
3. The possibility of going through the courts in the foreign country.
4. The problems faced of getting a foreign court judgement enforced in the firm’s own country.
Contracts between firms based in different countries may specify a choice of law to govern their contracts, this will also dictate the forum in which disputed will be held.
Alternative dispute resolutions:
• Out of court settlement by the parties.
• Mediation: the introduction of a third party in an attempt to settle differences.
• Arbitration: the submission of a dispute to a named person or organization in accordance with agreement.
For members of the EU the Rome Convention provides if the parties have not made a clear choice of law
then the contract will be governed by the law of the country who carries out performance of contract.
An online trader sells goods to consumers in many countries from one website. The growth of e-commerce has greatly expanded consumer deals across borders, changing the standard business to business transactions. It is therefore crucial for the online trader to be familiar with relevant national law and also face the possibility that he is liable to be sued in all countries where his website is accessed & goods are purchased.
We as a law firm, deals cases before Mediation, Arbitration, Trial Courts, Appellate Tribunals, High Courts and Supreme Court. We also provide complete legal directions and pathways on the subject in accordance with applicable laws. We are also providing complete consultancy to Pakistan and overseas clients. Our lawyers are having exclusive expertise to register a public limited company in Pakistan and providing full support after registration a public limited.