INTERNATIONAL CONTRACT: A CHALLENGE
AUTHOR- TANU MITTAL, STUDENT AT MEERUT LAW COLLEGE, MEERUT
Best Citation – TANU MITTAL, INTERNATIONAL CONTRACT: A CHALLENGE, ILE FORTNIGHTLY REVIEW (ILE FN), 1 (2) of 2023, Pg. 4-8, APIS – 3920 – 0035 | ISBN – 978-81-964391-3-2.
Abstract
Contract is a backbone of the trading system without it trade can not sustain. Where there is a trade, there is a contract. It may be either expressed or implied. International trading is not a concept of modern times but its evidence can be seen from Indus Valley Civilization. Traders from the Indus valley began to explore foreign trade, established trade with Mesopotamia and the Gulf region. Import-export were well established between Oman peninsula and Indus Valley archaeologist evidence of goods can be found.[1] Thus along with international trading concept of international contract is also old but in contemporary time, trade is much more complex which impacts the contract’s efficacy. Confusion arises in the contract when it is between persons from two or more nations. Here question arises what will be the language of a contract, whose country’s law will govern the contract or under whose jurisdiction it will be enforceable? In this article we will discuss the concept of international contract, challenges imposed by them like choice of law, choice of forum etc. Which law will govern in case of absence of exclusive choice of law, forum etc in contract. Indian concept or rules regarding the international contract, how it is implemented and the judiciary role in explaining the concept of international trade in Indian context.
KEYWORDS: International contract, choice of law, UNIDROIT, choice of forum, private international law
[1] Dennys Frenez” The Indus Civilization Trade with the Oman Peninsula” available at https://www.Harappa.com