International law of contracts Article Example | Topics and Well Written Essays - 1500 words

International law of contracts - Article Example The bill of lading stipulated that the goods were "received in apparent good order and condition" and compliant with the commercial invoice. The condition of the goods was further confirmed by the certificate of inspection issued on loading. Private international law often varies according to the type of parties involved in the contractual arrangement. Most times, consumers are protected by rules that aim to make sure that the law is applied as far as reasonably possible for the consumer. The location of the parties in the contract is also an element that is often used by international laws. These laws refer to places like the domicile or habitual residence of natural persons, or the principal address or place of business of a given company. A news report in the financial section of the Broadcasting Finance Corporation (BFC) by Chief Economist Roberto Preztono has sparked a rumour that a well established bank in the UK is experiencing severe cash flow problems, and the informed opinion in the finance sector seem to suggest that the bank in question might be Leman Sisters. The Samba Carnival arrived in Southampton at the end of October and on inspection there appeared to be some concerns about the condition of the consignment of steel rods. A significant portion of the consignment was discovered to be rusty and there was some doubt as to whether the goods would match the specifications required under the agreement. Although the ship's manifesto records that the ship encountered a heavy storm during the voyage and water entered into the hold, it is hard to determine the real cause of the damage. A consignment of timber stowed above the steel, was reported as being water logged. It was also reported that there had been a s ignificant breakdown in the communication and management of the ship during the course of the voyage. Apparently 8 of the 16 crew members (including the new trainee cook) were suffering from food poisoning. Of the remaining 8 crew members who did not sample the cook's culinary debut was the First Lieutenant who categorically refused to leave his cabin. It has since transpired that the First Lieutenant was in fact an undercover investigative journalist trying to expose harsh working conditions on merchant ships. It appears that his CV and references were not checked by Amazona Ltd before confirmation of employment. In this instance, a party can be excused from liability to a claim of damages when there is a failure to perform, that can be attributed to an impediment that is beyond the control of the party's, or a third party sub-contractor Such an extraneous event might elsewhere be referred to as force majeure, and frustration of the contract. The place of performance of a contract also plays an important role in some private international law rules. When the performance of the transaction involves some physical contact with a given jurisdiction, e.g. delivery of the goods ordered, the fact that the contract was concluded on line does not as such raise any problems. The problems arise when the contract is not only concluded but