Other Flashcards
What is arbitration?
A faster process than regular court. You can control the process and it is closed for media and other external parties, but can be very costly. Arbitration is always an unfair clause of a contract if it is used against a consumer.
What is the CLEO method?
- Claim. What do we claim?
- Law. Which law applies?
- Evaluate. Is the law applicable in this case?
- Outcome
When does CISG apply?
CISG applies when both parties of a contract are a part of the UN, and when the buyer and seller are in different countries. Apply to all important countries - except UK, Ireland and Portugal.
When does Unidroit principles apply?
The Unidroit Principles applies to international commercial contracts - B2B contracts where the buyer and the seller are in different countries. Apply to all important countries - except Iceland.
What is the Rome I regulation?
European Union regulation that concerns the conflict of laws and jurisdictions. Can help determine what law applies to a contract. Applies to all EU member states except Denmark.
What does the Unfair Contract Terms directive address?
A European Union directive that addresses the imbalances in the rights and obligations of consumers and those of sellers when a contract between two parties is signed.