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Contract Laws From Around the World Contractual disputes may take parties to a contract to a foreign court if the contract is silent on where potential litigation should be adjudicated. Below is a brief overview of various contract law principles and sources from across the world. GRP Rainer LLP are experienced international business lawyers who can assist your company with international contractual matters prior to the formation of a contract, or subsequent to a contractual dispute www.grprainer.com/en/International-Law.html English Contract Laws Doctrines of English Contract Law are central to contract laws in England and Wales, Australia, Canada, New Zealand, India, South Africa and the United States. Many international commercial agreements are governed by English contract laws. The basic principles of English Contract Law include:
Laws in the 47 countries located throughout the Asian region vary, but many of the commercial laws of Asia have been influenced by Western common and civil laws. Japanese contract law is based largely on the Civil Code, which specifies the rights and obligations of the contracting parties in general, as in specific types of contracts. Chinese laws are influenced by diverse sources including traditional Chinese views, the country’s socialist background, German-based laws, and English-based common laws. Intellectual property, corporate and securities laws have been influenced by a recent influx of foreign lawyers. Asian law relating to the sale of goods has been strongly influenced by the French and German civil codes. United States Contract Laws United States contract laws are based on the common law and the Uniform Commercial Code (UCC). Although many contract laws are uniform throughout the country, there is variation amongst state courts depending on whether or not they have adopted certain portions of the Restatement (Second) of Contracts. The Restatement is a well-recognized legal treatise relevant to contracts and commercial transactions that has been codified in many states. The UCC, or Code, has been adopted by many states and governs transactions involving the sale of goods, or personal property, rather than real property. The Federal Arbitration Act covers contracts arising under federal or state law and makes arbitration clauses generally enforceable, unless fraud or unconscionability are suspected. German Contract Laws The German legal system is composed of both public laws and private laws. Private laws, or Privatrecht, regulate the relations between two people or companies. The Civil Law Book (BGB) consists of five major parts, including the law of obligations (contract law). The most important principle in the BGB states that all citizens are entitled to manage their own affairs without interference from the state, especially where contracts are involved. Therefore, the BGB is used as a resource primarily when the parties to a contract have not contemplated a term prior to a disagreement arising. The Principle of Abstraction states that contracts create only an obligation and additional contracts regulated by property law principles often are necessary. Existing German international laws require that in the absence of an express agreement, German contract law applies whenever the principal contractual obligation is performed in Germany. Thus, the supply of products and services to German customers are regulated by German contract law unless otherwise stipulated. About GRP Rainer LLP GRP Rainer LLP is an international firm of lawyers and tax advisors who are specialists in commercial law. The firm counsels commercial and industrial companies and corporations, as well as associations, small- and mid-sized businesses, self-employed freelancers and private individuals worldwide from offices in Cologne, Berlin, Bonn and Düsseldorf, Germany.
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