LegalBritish a written summary of the details of a legal document a legal document of a judge that prevents someone from doing something legal a legal document that explains what you want to happen to your money and possession after your death. This often becomes more formal than a will and final will If you still haven`t resolved the formal crossword agreement, then why not check our database for the letters you already have! Legal an official document that you have in a case formally a condition that must be accepted before an agreement I.1 If the parties have a contract that has links with more than one state, the question of what set of laws necessarily determines for the transaction. The answer to this question is obviously important for a tribunal or arbitral tribunal that must resolve a dispute between the parties, but it is also important for the parties themselves, in the planning of the transaction and the execution of the contract, to know the set of rules that govern their obligations. I.2 Determining the law applicable to a contract without taking into account the express will of the contracting parties may lead to unnecessary uncertainty due to differences between the solutions between the state and the state. This is why, among other things, the concept of „party autonomy“ in determining the applicable law has developed and prospered. I.3 The autonomy of the parties, which relates to the power of the parties to choose the law applicable to this contract, increases security and predictability within the primary contractual agreement of the parties and recognizes that the parties are best placed to determine the most appropriate legal principles for their transaction. Many states have come to this conclusion and that is why the effect of party autonomy is now the dominant view. However, this concept is not yet applied everywhere. I.4 The Hague Conference considers the benefits of party autonomy to be significant and encourages the dissemination of this concept to states that have not yet adopted it or have not adopted it significantly, as well as the development and refinement of the concept, if it is already accepted.
I.5 As a result, the Hague Conference proclaimed the Hague principles of law selection in international trade agreements („Principles“). These principles can be seen both as an example of how to build a comprehensive legal choice for the effectiveness of party autonomy and as a guide to „good practice“ in the establishment and refinement of such a regime. Agreement of Law I.6 The choice of the law of the parties must be distinguished from the terms of the parties` primary contractual agreement („main contract“). The main contract may be, for example. B, a sales contract, a service contract or a loan contract. Contracting parties can either choose the applicable law in their main contract or enter into a separate agreement on the choice of law (hereafter referred to as the „law choice agreement“). I.7 Choice agreements should also be distinguished from „jurisdiction clauses“ (or agreements), „forum selection clauses“ (or agreements) or „jurisdiction clauses“ (or agreements) which are all synonymous with the agreement of the parties on the forum (usually a court) that decide their dispute. The choice of legal constructs should also be distinguished from „arbitration clauses“ (or agreements) that refer to the parties` agreement to submit their dispute to an arbitration tribunal. While in practice these clauses or agreements (collectively referred to as „dispute settlement agreements“) are often combined with the choice of a legal construct, they have different purposes.