ASSIGNMENT ON LEGAL ASPECTS OF INTERNATIONAL CONTRACT

SUBMITTED TO SUBMITTED BY PROF. A K PANDEY PRABHAT ANAND(2K12B72)

INTRODUCTION
INTERNATIONAL CONTRACT:
The international contract is a contract that has a foreign element, that is to say that the contract is in contact with one or more order (s) legal (s) abroad (s). Specifically, the foreign element may be resident abroad, a party to the contract, nationality, place of contract conclusion, and many other possibilities.
The commercial contract is a contract for a commercial transaction or a contract made by a trader for the purposes of his trade.
Therefore an international commercial contract is the addition of foreign elements in a commercial contractual relationship. Example is a contract between a French commercial agent to an American entrepreneur. Or it may be a contract between a French company and a provider of electronics in China.
The formation of a contract

Main points that need to be addressed:

• Agreement: who decides that an argreement has been reached (objective/ subjective approach)
• Offer and acceptance: offer of invitation, display of goods, advertisements etc leading to acceptance
• Certainty and agreement mistakes
• Consideration and form
• Intention to create legal relations: domestic and social, commercial agreements
• Third party rights
• The content of a contract: creation and classification of contractual terms, exclusion clauses

INTERNATIONAL CONTRACT LAW

Laws covering trade between businesses in different countries have existed since the law merchant was born in the medieval period. As business has grown across national borders and business relations have