Limitations on the principle of private international law party autonomy

In accordance with the principle of party autonomy of international private law parties to an international transaction are entitled to select applicable substantive law or rules of law. The rationale behind this principle is to provide an opportunity to select a legal framework, which shall apply, among others, in a case of any disagreements or disputes arising from the transaction between the parties.

DAVAMINI OXU “Limitations on the principle of private international law party autonomy”

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Force majeure (or vis major) and hardship are two concepts that govern situations of changed circumstances in international commercial contracts

Unlike short-term ones, long-term contracts generally include clauses regulating changed circumstances. Two main concepts related to changing situations are force majeure (or vis major) and hardship.

Force majeure is a civil law concept that has no real meaning under the common law system. In more general terms, force majeure occurs when the performance of a contract is impossible due to unforeseeable events beyond the control of the parties.

DAVAMINI OXU “Force majeure (or vis major) and hardship are two concepts that govern situations of changed circumstances in international commercial contracts”

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YAZINI FAYDALI VƏ DƏYƏRLİ HESAB EDİRSİNİZSƏ ADMİNİMİZ ÜÇÜN BAŞLADILAN TƏHSİL KAMPANİYASINA DƏSTƏK OLMANIZI VƏ YA ƏN AZINDAN FACEBOOK VASİTƏSİLƏ PAYLAŞMANIZI XAHİŞ EDİRİK !
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