This is an extract of our Internationalisation Of Contracts document, which we sell as part of our Contract Notes collection written by the top tier of Griffith University students.
The following is a more accessble plain text extract of the PDF sample above, taken from our Contract Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:
INTERNATIONALISATION OF CONTRACTS
Cross Border Contracts:
* Cross--border transactions are increasingly common. * This refers to contracts in which the parties are from different legal
systems; or in which some obligations under the contract are to be
performed in another legal system. * Different legal systems regulate contracts differently, which creates
the possibility of a 'conflict of laws'. * Consideration is not a requirement in some legal systems. * Legislation often modifies the common law of contracts in particular
ways, as in the Australian Consumer Law and the Insurance Contracts
Act 1984 (Cth). * There are some differences in contract law within Australia. * In the Northern Territory, Queensland and Western Australia, third
parties can claim under contracts made for their benefit, but there are
no equivalent provisions in other jurisdictions. * In some states and territories, there is specific legislation dealing with
contracts - e.g. the Misrepresentation Act 1972 (SA) and the Contracts
Review Act 1980 (NSW).
Resolving cross border contract issues:
* Specialist dispute resolution methods
o international commercial arbitration; international litigation. * When a conflict of laws occurs, choice of law rules determine which
o in contract disputes, the choice of law rule is that the law chosen
by the parties determines the parties' contractual rights and
o In tort disputes, the choice of law rule is that the law of the place of
the tort governs the parties' rights and liabilities in tort. * Conflicts of laws can be avoided by legal unification.
Contracting in cross border transactions:
* In most legal systems, the parties are free to use the contract to determine
many aspects of the transaction, including:
o method of dispute resolution (e.g. mediation, arbitration, expert
o choice of 'forum',
o choice of the 'governing law' of the contract.
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