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The mechanics of the law affecting international business. - Coggle Diagram
The mechanics of the law affecting international business.
Avoiding Business Disputes:
Any dispute threatens the bonds of trust, and impacts the bonds of trust.
Cultural Attitudes
*Arbitration
is a more formalized process that results in a binding award that the courts of law in many countries will enforce.*
Arbitration clauses
Advantages:
1.Permits the resolution by a 3rd neutral country.
2.Arbritatrtor may be chosen.
3.Cost effective.
4.Right to appeal is limited.
Disadvantages:
1.Still expensive.
2.Losing part has limited right to appeal.
3.Discovery is limited.
4.Relaxed procedural rules.
5.Limit rights to approach court.
Once parties agree on arbitration, they may not withdraw. It levels the playing field.
Enforcement of arbitration
Private
*Mediation
is a voluntary, nonbinding, conciliation process*.
Parties agree on an impartial mediator. - Final decisions to settle rests with the
parties.
Parties reserve rights to resort to binding arbitration or litigation
Private
Alternative dispute resolution.
*Litigation:
A case is brought before a court of law suitably empowered to hear the case, by the parties involved for resolution.*
In rem is the power over property within its geographical boundaries.
Procedural law
Obtaining jurisdiction by service of process
Substantive law
Jurisdiction
is the power of court to hear and decide a case.
Nationality
Protective
Passive
Territionality
Universal
Personam jurisdiction is jurisdiction over the person
Subject matter is jurisdiction over certain types of cases like torts/contracts
Contracts:
1.Place of contacting.
2.Place where contract was negotiated.
3.Place of contract performance.
4.Location of subject matter.
5.Domicile, residence, nationality, etc of parties
Torts:
1.Place where injury occurred.
2.Place where conduct causing injury occurred.
3.Domicile, residence, nationality, etc of parties.
4.Place where relationship is centered.
A forum selection clause is a provision in a contract that fixes in advance the jurisdiction in which any disputes will be arbitrated/litigated.
Forum non conventions
Conflict of laws
Commercial Disputes with Nations
Exception
Sovereign Immunity
Choice of law clauses
Enforcement of foreign judgements