StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

International Corporate and Contract law - Essay Example

Comments (0) Cite this document
Summary
Download the original attachment International Corporate and Contract law Introduction: International Corporate law is a large body of administrative law, statutory law, case law, and contract law that govern worldwide business dealings. It consists of the law of multiple nations and therefore it experienced legal counsel…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.6% of users find it useful
International Corporate and Contract law
Read TextPreview

Extract of sample "International Corporate and Contract law"

Download file to see previous pages Contract and business law are increasingly composite and at the present they affect every industry and all types of commercial contract; from entering into an agreement, to ensure the validity of purchase circumstances. A contract law is generally an agreement enforceable through law. For the legal contract law to become legal, it must satisfy certain legal necessities. There are various courses of contracts which, though ideal so far it relates to structure, consideration and contract, are not specified. All the agreements are deemed to be contracts, if the agreements are prepared by the free consent of the parties, capable to contract, for a legal consideration with a legal objective, and are not specifically declared as invalid. The following are considered as the necessary elements of a valid contract: agreement, intention to create a legal relationship, free and genuine consent, and parties competent to contract, legal consideration, legal object, agreements not declared void or illegal, certainty of meaning, possibility of performance and the necessary legal formalities. In this particular problem scenario, there is no written agreement among the parties to the agreement so this is not a valid contract. As a case in point, John is not liable to pay compensation to Gold Iron Inc. As he, John John, claims that he did not enter into any binding agreement wit the firm, and that his signature produced by the Gold Iron Inc. was forged. “The Contract Act is the law of those agreements which create obligations, and in case of a breach of a promise by one party to the agreement, the other has a legal remedy.” (Law of Contracts n.d). The Fact of the Case: In this case, Gold Iron Inc, which is a steel manufacturer company, is incorporated in Pennsylvania (USA). John, is an Italian citizen, is an engineering consultant who has spent much of the time traveling round the earth. When he is not at work, he spends his time with his family in Italy and also with his mistress in England. John’s assets are mostly located in England. During his journey he happened to meet the president of Gold Iron Inc that is Mr. Unwin at a conference in New York. As a result of this relationship is that John agreed to carry out some consultancy work on behalf of Gold Iron Inc. John, on the other hand, claims that he did not go into any kind of binding agreement and that his signature was forged. The Agreement enclosed a clause of dispute resolution that says: Any argument arising out of this agreement consisting of questions regarding its validity and existence will be exclusively referred to the courts in English, and that the governing rule of this agreement shall be Italian law too. After few months Gold Iron Inc started legal proceedings against John in the courts of Italy for breach of contract. In the course of the actions John’s lawyer claimed that Gold Iron Inc was intentionally seeking to delude the court by forged written proof. The court decided that the proof was not forged and completed that John was in breach of contract. The Italian court handed down a verdict in December in Gold Iron Inc’s favour, ordering John to pay compensation of €5 million. “Since a very substantial body of European contractual and commercial law derives its inspiration from Roman law, it is appropriate that modern Italian law be taken as representative of the contract and commercial law ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“International Corporate and Contract law Essay Example | Topics and Well Written Essays - 3750 words”, n.d.)
Retrieved from https://studentshare.org/law/1398777-international-corporate-and-contract-law
(International Corporate and Contract Law Essay Example | Topics and Well Written Essays - 3750 Words)
https://studentshare.org/law/1398777-international-corporate-and-contract-law.
“International Corporate and Contract Law Essay Example | Topics and Well Written Essays - 3750 Words”, n.d. https://studentshare.org/law/1398777-international-corporate-and-contract-law.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF International Corporate and Contract law

International Trade Theory

 Further to this, it is also believed that international trade can bring substantial economic welfare to the countries however still most of the countries do not view it as a favorable thing. Despite having a very promising and bright outlook, international trade has been largely viewed with suspension and it is because of this that governments impose barriers to restrict international trade. There can be many reasons behind this act of imposing restrictions or blocking international trade however there are also benefits on the other side too.

International trade has driven the attention of many of the brilliant minds in economics therefore the origins of the economic theory on international trade owe much to the c...
6 Pages(1500 words)Case Study

Globalization and International Business: Starbucks Corporation

The Small Business Encyclopedia defines globalization as the process by which the economies of countries around the world become increasingly integrated over time. This integration occurs as technological advances expedite the trade of goods and services, the flow of capital, and the migration of people across international borders (globalization, Answers.com).
The shreds of evidence of globalization are all around us. For example, Hill (2005) cites an example of an American driving a car designed and produced in Germany that was assembled in Mexico from components made in Japan fabricated by Korean steel and Malaysian rubber. The car is filled with gasoline from oil pumped from off the coast of Africa, at a service station o...
12 Pages(3000 words)Case Study

Organization and Functions of Federal Law Enforcement Agencies

Threats may either appear in the form of terrorism or from other intelligence groups or from the espionage. It may arise within the country, against the existing government or social systems. Though most of the federal law enforcement groups are investigative groups, they are not only focused on investigations but stand for the people. One can see that the importance of the federal agencies is growing day by day because the threats from militants and others have considerably increased. Such kinds of federal law enforcement agencies include Federal Air Marshalls, Secret Service, FBI, Untouchables, C.I.A and Federal Corrections etc. The organization and functions of these agencies vary in different fields and can be cited in the fol...
7 Pages(1750 words)Case Study

Company Law Issues

Various sections of the CA are coming into force over a staged process and the relevant provision relating to authority is sections 39 and 40, which came into force on 1 October 2007.

Section 39(1) of the CA provides that “the validity of any act done by a company shall not be called into question on the ground of lack of capacity by reason of anything in the company’s constitution”

Additionally, section 40(1) provides that: “In favor of a person dealing with a company in good faith, the power of the board of directors to bind the company, or authorize others to do so, shall be deemed to be free of any limitation under the company’s constitution”.

Section 40 (2)...
9 Pages(2250 words)Case Study

Contract Law

This expression of willingness can assume several forms, such as a facsimile, letter, electronic mail or a telephonic message. The intention is an objective consideration and in the case of Smith v, Hughes 4 relevant consideration was deemed to be the manner in which a reasonable person would view intention. Furthermore, the law distinguishes between an offer and an invitation to treat. The latter is not an offer but merely an indication of willingness to negotiate a contract.

An instance of this is provided by the case of Gibson v Manchester City Council5. In this case, the phrase may be prepared to sell was held to constitute an invitation to treat and not an offer. Indeed, the Gibson decision challenged the tradition...
6 Pages(1500 words)Case Study

Constitutional and Administrative Law

When examining the decision of previous court comments that are made obiter dicta will not be part of the precedent since often obiter dicta comments are speculative remarks on how the judge might have acted if the facts had been different.

Binding precedents come from earlier case law and, as suggested in the wording, must be followed even if the judge in the present case does not agree with the legal reasoning of the judge in the earlier case. In order for a precedent to be binding the facts of the present case to have to be sufficiently similar to the earlier case. Decisions given in a lower court to the one in which the present case is being heard will not be binding. For a decision to set a precedent it must have b...
8 Pages(2000 words)Assignment

The Law on Physical Punishment of Children Fails to give Sufficient Respect to Childrens Rights

Under the English criminal law, several past and current legislations were made in order to protect the children from corporal punishment or becoming a victim of physical abuse. Despite our effort to prevent parents from using physical force in disciplining their children, the British Government remains unconvinced that the law which protects the children from physical punishment is sufficient (Keating, 2008). Physical punishment such as ‘smacking’, ‘slapping’, ‘kicking’, or ‘spanking’ is referring to the act of causing a degree of pain or discomfort to the child. (Niland, 2009, p. 6) With regard to the legal issues behind child protection against physical abuse, this study aims to d...
6 Pages(1500 words)Coursework

Meaning and Characteristics of Contract

Even as it is almost certainly not viable to give one total and generally correct definition of a contract, the most normally admitted definition is: 'a promise or set of promises which the law will enforce' (Pollock Principles of Contract (13th Edn) 1). The key considerations for the enforcement of a contract against a promisor are economic meaning the economic obligation of gripping the adherence of bargains and moral meaning moral reason that the guarantee was freely given.

According to the present law of contract, claim for money is either for ‘payment of an agreed sum’, or for damages for breach of contract. In the 19th century, these two ideas made the common law to sanction full freedom and purity of...
6 Pages(1500 words)Coursework

Analysis of Tourism and Hospitality Law Case

 The main issue that needs to be tackled first is whether there is a valid contract between Richard Brat, carrying on trade as Brighton Greens, (buyer) and Molly and Kelly trading in First Grade Granny Smith apples as Holy Farm.

Apparently, there was, when considering their verbal and written mail sent by Richard to Holy Farm on August 1 reading as follows –“Please deliver 20 boxes –Granny Smith ‘Brighton Greens’. Cheque mailed.“

It may be seen that the mail order does not specify the category or grade of apples to be supplied, but one of the implied conditions of sale could be that the goods ordered need to correspond with the goods inspected and tested.

In th...
8 Pages(2000 words)Case Study

International Affairs v. Liberalism

As a matter of fact, Hoffman’s statement that “international affairs is the nemesis of liberalism” has a grain of truth in it and this is especially so after the 9/11 incident.
There are two schools of thought or perspectives that are used to view international affairs: liberalism and realism. The study of these two perspectives is significant to the idea posed by Stanley Hoffman because they determine the reasons why international affairs, according to him, does not only see eye-to-eye with liberalism but seems to stand on the opposing side of it.
Liberalism can be defined as having four elements: citizens; the legislature; property rights, and; a market-driven economy (Dunne 186). Realism, on the othe...
6 Pages(1500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic International Corporate and Contract law for FREE!

Contact Us