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International contracts
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- Common law tradition focuses on literal interpretation and precise terms, while civil law allows for other sources like the civil code to interpret uncertain terms.
- A contract is considered international if it involves parties from different states or if substantial obligations are performed in a state outside of both parties' home states.
- The Anglo-Americanization of contracts emphasizes detailed and self-sufficient common law drafting, but this can lead to imbalances where more powerful companies take advantage.
- Boilerplate clauses like entire agreement, termination, and arbitration clauses are crucial for international contracts, ensuring clarity and consistency in interpretation.
- Governing law is chosen based on various factors including domestic laws, common law of England, international instruments, EU regulations, or sector-specific models, with considerations for jurisdiction and applicable law rules.