Applicable law in international contracts - how Adam proved that details matter?
Applicable law is a set of rules that determines which country's laws should be used to recognize legal matters arising from specific legal relations like a contract concluded between parties. In international B2B contracts, the applicable law determines among others what are the legal effects of the agreements between the parties, affecting how they should cooperate and how the disputes should be resolved.
Have you received a contract that needs to be signed with a foreign contractor? Find out which provisions are worth paying attention to. I have prepared 5 important points regarding typical provisions for this type of contract.
A B2B agreement in the international trade might be concluded in several ways. Unless the law specifically says that an agreement must be made in a specific form (like getting it signed by a notary or putting it in writing), most often the involved parties can decide about the way of formalizing their agreement.