If two different companies based in the United States and Germany get into a leg
ID: 469560 • Letter: I
Question
If two different companies based in the United States and Germany get into a legal dispute, the choice of law binding both parties will be the:
Washington State Law.
Geneva Convention.
United Nations Economic and Social Council.
Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
United Nations Commission on International Trade Law.
Washington State Law.
Geneva Convention.
United Nations Economic and Social Council.
Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
United Nations Commission on International Trade Law.
Explanation / Answer
If two different companies based in the United States and Germany get into a legal dispute, the choice of law binding both parties will be the United Nations Commission on International Trade Law (UNCITRAL). It plays significant role in refining the legal structure for international trade. In the field of international trade law, it is considered as the integral body of the United Nations Systems. It includes laws, rules and conventions which are acceptable across the globe. It prepares international legislative as well as non-legislative texts. The legislative texts addresses international issues such as international sale of goods, international commercial dispute resolution, international payments, cross-border insolvency, etc.