Thomas More - Contract Law - Comprehensive Summary + How-To solve scenarios
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Course
Contract Law
Institution
Thomas More Hogeschool (tmhs)
School: Thomas More
Course: Contract Law
Lecturer: Sabine Thielmans
Content:
- GDP and National Accounts
- Financial Markets
- Money, banking and Monetary Policy
- Goods and Services
- IS LM
- Fiscal Policy
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,National Law
National law is the legal framework within a specific country or jurisdiction. It
encompasses a wide range of regulations, statutes, and legal principles that govern
various aspects of society.
Differences between Civil Law and Common Law Families
In common law systems, legal decisions in current cases are heavily influenced by
past legal precedents or judicial rulings. This means that the judgments made in earlier
cases serve as guidance for similar future cases.
Civil law systems, on the other hand, rely primarily on codified statutes and regulations
to decide legal matters. These systems have a comprehensive set of laws and
regulations that are applied directly to cases.
Legal Reasoning, terminology & fundamental concepts
In the study of law, it's essential to understand the reasoning behind legal decisions
and the terminology used. This includes concepts like:
➢ Penalty Clauses: These are designed to deter a party from breaking a contract.
They differ from liquidated damages, which are meant to compensate for
anticipated losses. The legitimacy of penalty clauses varies, and some may be
considered improper and unenforceable.
➢ Good Faith: A general principle in the execution of agreements. It emphasizes
honesty, fairness, and sincerity in contractual dealings. Good faith can be a
guiding principle in legal disputes, although specific rules may apply in different
contexts.
Internal Differences
Within a given legal system, individual countries or states may have developed their
own variations of contract law and legal principles. These internal differences can
create unique nuances in the application of legal rules and regulations.
Rania El Ghalbzouri 2
IBT 2B1
,Cross-border transactions
Cross-border transactions involve the exchange of goods, services, or assets between
parties in different countries or jurisdictions. These transactions are subject to various
legal considerations and complexities.
In the context of cross-border transactions and international contracts, it's important
to note that most national legal systems lack specific rules, often referred to as
'substantive law,' that exclusively govern these types of transactions. Instead, they rely
on existing domestic laws and principles.
A transaction that impacts the interests of two or more countries necessitates a
deliberate choice of the governing law. This choice is crucial, as it can significantly
influence the resolution of any legal disputes that may arise between the parties
involved.
How to Determine Applicable Rules?:
Deciding which set of legal rules applies in a particular cross-border transaction or
international contract is a complex task. It involves careful consideration of various
factors, including the nature of the transaction and the jurisdictions involved.
The Need for Uniform International Law:
Given the challenges associated with determining the governing law for cross-border
transactions, there is a growing recognition of the need for a uniform international law
that can provide clarity and consistency in resolving disputes across borders.
Determination of the applicable and of the substantive law
➢ Competent tribunal/court?
Determining the appropriate legal authority for a case.
➢ Law of the forum?
Legal principles applied by the court in the jurisdiction where the case is heard.
➢ International Private Law
Legal framework for resolving private disputes involving international elements.
Primarily based on national laws but influenced by EU and international treaties.
➢ International sources of law
Various legal instruments shaping international relations, including treaties and soft
law.
➢ Party autonomy
The ability of parties to choose the governing law and dispute resolution
mechanisms in contracts.
➢ Lex Mercatoria
Unofficial body of international commercial law principles and practices.
Rania El Ghalbzouri 3
IBT 2B1
, International Private Law
International Private Law, also known as IPL or PrIL (International Private Law), plays a
crucial role in resolving legal issues that span multiple jurisdictions. IPL addresses various
aspects of private law relations, particularly in civil and commercial matters.
At the heart of IPL lie the "Conflict of Law" or "Choice of Law" rules, which are
instrumental in determining which legal system should apply in specific cases involving
multiple jurisdictions.
Four Main Questions in IPL
➢ Applicability of Law: Which Law is Applicable in Private Law Relations?: IPL seeks
to answer this question, guiding the selection of the appropriate legal framework
for resolving private law matters. → Material IPL
➢ Jurisdiction of Courts: Which Court Has Jurisdiction in Disputes of Private Law?: IPL
defines the competent courts that have the authority to adjudicate disputes that
involve multiple jurisdictions. → Formal IPL
➢ Procedural Matters: Procedural Matters: IPL addresses the procedural aspects of
cross-border legal cases, encompassing issues such as the service of documents
across borders and the collection of evidence from multiple jurisdictions. → Formal
IPL
➢ Value of Foreign Judgments (Enforcement Abroad): A critical aspect of IPL involves
understanding the enforceability of foreign judgments in other jurisdictions. IPL
provides the framework for recognizing and enforcing judgments rendered in one
country within the territory of another. → Formal IPL
International Private Law (IPL) consists of two primary types of rules:
➢ Conflict Rules (National or Uniform): Conflict rules are pivotal in IPL, as they
determine which legal framework, be it national or uniform, should apply to a
particular case. These rules provide guidance on the choice of applicable law.
➢ Substantive Rules (Mostly Uniform): Substantive rules come into play after the
conflict rules have been applied. These rules typically aim to regulate specific
aspects of transnational relationships. Notably, many substantive rules are uniform
across jurisdictions. For example, the Vienna Sales Convention (CISG) governs
international sales contracts, providing a consistent legal framework for such
transactions.
Rania El Ghalbzouri 4
IBT 2B1
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