Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
The contract must also explain where the case would be settled. The best choice is of course international arbitration because it is a neutral ground that is likely to provide speedy and inexpensive settlement. However the problem is that Candore has not ratified any international trade convention, which makes it difficult for the U.S. To enforce the settlement on it. For this reason, it is important that the dispute be settled in a U.S. court. While the Candorian justice system could have been an easy choice, the problem is that in that country judiciary is not independent of the government and there is a possibility that government would want to influence the decision. Gentura is their own local business and they would not want to impose penalties on it for some foreign firms. In order to remove this problem, it is best to use the U.S. courts for dispute settlement. In the U.S., the judiciary is independent and fair trial is not doubted. For this reason, Cad Mex must ask Gentura to agree to this term. While the U.S. courts may not allow cases against foreign firms operating in their...
This is a commercial case since technology was transferred from the U.S. To Candore. The U.S. courts will allow this dispute and resolution of it might be less of a hassle.
Recommendations:
Based on the suggestions above, it would be correct to say that Gentura can be involved in the breach of contract. This is always a possibility with a firm operating in a small developing country with a dictatorship and no signatory status. The fact that Candore is not a signatory to any major trade organization may act as an incentive for Gentura to sell the technology ahead and earn good amount of money. However in order to avoid this from happening, both parties must agree on all the clauses of the contract and this contract must contain clear clauses on what would happen in case of a breach. The terms of the contract must also be fully explained to the foreign party. Laws and forum choices must also be agreed upon. The terms of the contract are Cad Mex's only protection against unethical and illegal use of its technology.
However, even as Europe was rapidly developing a set of legal concepts and frameworks that served to coordinate and integrate its disparate commercial law systems, European colonialism required the development of legal systems that could adapt and deal with the particular needs of far-off colonies. In general, colonizers attempted "to impose legal systems intact," but in the case of the Americas (and elsewhere) this proved largely impossible, as unforeseen situations
International commercial law is summative to many other laws representing state affairs in the nationals involved throughout the world. The existence of the international commercial law is perceived to offer an equitable allowance to master and cater for differences and collide of ideas among people and organizations from all over the world. Nonetheless, the regime of carrier's liability under the Hamburg Rules is far more stringent than that under the
" Zamir (2007) states "is one of the most litigated sections of the convention. Under it the buyer loses the right to rely on a lack of conformity of the goods if he does not give notice to the seller specifying the nature of the lack of conformity within a reasonable time after he has discovered it or ought to have discovered it. In practice the requirement for a reasonable time
Commercial Contract Law to Increase Oil Investment in Kuwait When it comes to the industries of natural resources and energy, the law of investment protection is particularly of great concern. According to the statistics of July 2013, it was revealed that 25% of the cases that have been registered with ICSID have addressed the issues concerning gas, oil and mining sectors. Moreover, another 12% of the cases are relevant to
Incorporating issues such as corporate governance, migration of companies, competition policy, social policy, tax policy and doing business with the public sector, EU commercial law examines each from the perspective of cross-border corporate management. For example, the issue of competition is crucial to commercial law in the EU. According to Trancs: "The source of laws governing competition for the EU is embodied in the Treaty on European Union, as amended
Business Law Law of sales and Uniform Commercial Code Business law in most cases deals with the laws governing sale of goods and the implications making sales. This paper aims to concentrate on the explanations regarding the UCC, which is the Uniform Commercial Code, and its effects on the governing of sale of goods in general. The article will also identify and critically explain the applications of the Uniform Commercial Code, which