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Choice of law clauses determine applicable legal principles from "summary" of Modern Law of International Trade by Ajendra Srivastava
When parties engage in international trade, they often come from different legal jurisdictions with varying laws and regulations. In order to avoid potential conflicts and uncertainty, parties can include choice of law clauses in their contracts. These clauses serve to determine which legal principles will govern the interpretation and enforcement of the contract. By including a choice of law clause, parties can establish predictability and certainty in their contractual relationships. This allows them to choose the legal framework that best aligns with their interests and intentions. For example, a party may prefer a certain jurisdiction's laws due to their fa...
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