Why do most international sales contracts specify arbitration in the event of a dispute?
461411
It comes from the variations in language.  Arbitration looks at both sides and weighs the significance of variation in language.  The English language is very confusing to learn and understand due to the double meaning of many words, and the English language is getting worse with time.  Also, it becomes increasingly difficult and expensive to interact with forign law matters.  Company A may be vendicated in a dispute, but due to the enormous legal fees of anInternational Trade Lawyer and court fees, Company A may have to "go under".  It is in the best interest of both parties to arbitrate.
869869
No.\n\nUS law dictates that any sale of goods or services over $500 has to be in writing.  If I remember my real estate law class from university correctly, it's called the UCC (Uniform Commercial Code). Verbal contracts are non-binding in this case.  \n\nThe written contract takes precident.  And here, most real estate sales contracts are worded so that they can back out anytime they want to.  \n\nI learned this the hard way where the same thing happened to me, where a seller backed out on a verbal contract after promising to sell a house to us.  My wife and I quit our apartment in the Bay Area and were effectively homeless unless we could find a new house.  We ended up tracking them down, begging them to reconsider.  Contacted a lawyers, but as you already know - didn't have a leg to stand on. \n\nIt all worked out in the end.  I didn't go homeless. If you believe in Karma, then what comes around goes around.  Don't get pissed, just know that bad things eventually happen to people who don't live an honest life.
489388
The notion that compulsory arbitration completely abridges all appeal rights on any basis is layperson misunderstanding -- it does not.\n\nCompulsory arbitiration means that the parties must substitute a more informal hearing process for the traditional due process of a judicial trial. However, the arbitrator must still permit the parties a meaningful opportunity to appear and present their positions and the arbitrator must make a neutral decision based upon the evidence appearing on the record.\n\nThe objective of compulsory arbitration is to reduce the cost of litigating a dispute -- not to prevent all judicial review.\n\nA court may review a compulsory arbitration award on the basis of mistake of fact, mistake of law, application of law, and abuse of discretion. A court may not substitute its decision for the opinion of the arbitrator, but it may set aside the arbitration award and require the arbitrator to reconsider the matter in view of the facts on the record, and any opinion of the court as to the harmful error made during arbitration.\n\nThe court may also require that the arbitrator more clearly explain its award so that the court can consider the decision based on the facts set forth on the record.\n\nThe above rules generally prevail with regard to a judicially mandated compulsory arbitration.\n\nWhere parties contractually agree to a private arbitration, under the Federal Arbitration Act (Title 9 U.S.C. 1-16 et. seq.), a different standard applies.\n\n"The Federal Arbitration Act allows a federal court to correct a technical error, to strike all or a portion of an award pertaining to an issue not at all subject to arbitration, and to vacate an award that evidences affirmative misconduct in the arbitral process or the final result or that is completely irrational or exhibits a manifest disregard for the law. These grounds afford an extremely limited review authority, a limitation that is designed to preserve due process but not to permit unnecessary public intrusion into private arbitration procedures." Kyocera Corp. v. Prudential-Bache Trade Services, Inc., 341 F.3d 987 (9th Cir. 08/29/2003) \n\nWith regard to the scope of judicial review, "...arbitrators 'exceed their powers' in this regard not when they merely interpret or apply the governing law incorrectly, but when the award is 'completely irrational;' French, 784 F.2d at 906, or exhibits a 'manifest disregard of law,' Todd Shipyards Corp. v. Cunard Line, Ltd., 943 F.2d 1056, 1059-60 (9th Cir. 1991)." Ibid.\n\nThus, courts are only authorized by Congress to undertake a more narrow review of arbitration awards, they are nevertheless still empowered to accord the litigants with a reasoned measure of due process.
544022
If the amount in dispute is relatively small, you can also check out Small Claims courts (sometimes called Municipal courts in some states).\n\nGenerally, neither party has an attorney, and the court listens to both sides and looks at available evidence, before reaching a reasonable conclusion. It's a much less expensive and must less time-consuming way to resolve simple disputes.\n\nBut if the issues are complex, competent legal advice from a licensed attorney is always a good idea.
222806
if it is a significant amount of money, you need a lawyer. my guess would be that failing to initial one spot would be viewed as an oversite and not a reason to void the contract.
449014
it probably varies from state to state, but in most places, a signed contract has it's own language reguarding cancelling and voiding; I'd read the contract, then call the dealer.
629022
ADR options are traded american style since they are traded on American exchanges eventhough the Companies the ADR's reperesent are foreign.
592318
Lots of things.  Many companys need contracts that can be enforced in a variety of countries.  International lawyers pick the law that will apply to the contract and write the contract according to that law.  International Lawyers draft treaties and negotiate international loans.  It can be dull at times but some of it is very neat.
278835
When you buy a product from a company, you have statutory rights that protect you from buying faulty products. You must insist on a full refund from the shop. If you accept the partial offer, you will waive all your rights. Do not allow them to bully you. The law says that they must either replace faulty goods or refund you in full. \nIf you cannot resolve this with the shop, you should contact the local authority trading standards department who I can assure you will have nothing better to do and will work your case with full gusto.\nAnother option for you is, BBC.co.uk/watchdog.\nWhen the manager of the shop phones you, inform them that you will use these options. You should find them more compliant. Good luck and let me know how you get on.
310097
Cost and Freight - CFR\nA trade term requiring the seller to arrange for the carriage of goods by sea to a port of destination, and provide the buyer with the documents necessary to obtain the goods from the carrier. Under CFR, the seller does not have to procure marine insurance against the risk of loss or damage to the goods during transit.\n\nInvestopedia Says: Contracts involving international transportation often contain abbreviated trade terms that describe matters such as the time and place of delivery, payment when the risk of loss shifts from the seller to the buyer, and who pays the costs of freight and insurance. \n\nThe most commonly known trade terms are Incoterms, which are published by the International Chamber of Commerce (ICC). These are often identical in form to domestic terms (such as the American Uniform Commercial Code), but have different meanings. As a result, parties to a contract must expressly indicate the governing law of their terms. \n\nIt's important to realize that because this is a legal term, its exact definition is much more complicated and differs by country. It is suggested that you contact an international trade lawyer before using any trade term.
700268
Need more info in order to answer! What exactly are you asking? Are you asking whether the customer has the right to refuse payment? Are we talking UK or US law here?\n\nIn the UK the Sale of Goods Act 1994 requires the product to be of satisfactory quality and fit for the purpose for which it was intended. The customer would, therefore, have the right to refuse the goods if they differed from the samples they were shown which formed the basis of their contract with the company.
552763
Companies often have the power to limit the extent of commission.  It depends on interpretation of company policy and your state's worker's rights law.
420971
This sounds like a basic business dispute arising from the contract between your company and the customer or between your company and the fabricator.  You want a law firm that handles commercial contract disputes, and there are lots and lots and lots of such firms.  Your local phone book should be full of them, but, as with mechanics, it is better to ask people you trust for a recommendation.
398622
It is mandated by fedral law on all franchises and is an important disclosure tool to a prospective buyer. It should be used in conjuction with the buyer's reaserch on the franchise and not relied upon solely.
1135965
With an agent there's a middle man, who wants a cut of the transaction $$.  This extra money is usually worth it as, ideally, the agent has much more experience in buying and selling and will hopefully get the best deal for all involved.  If you're confident that you're savvy enough, cut out the middle man and avoid the extra $$
801355
depends.... if there is a provision in the agreement for the "specific performance or non-performance" of contract & explicitly states that only upon these conditions can the contract be terminated, then yeah like hell the manufacturer can sue the distributor for wrongful dismissal... if it is silent, then it mite be tricky.... get ur document checked out by a legal expert, coz there are  a bunch of lawsuits where the verdecit has gone both ways, all based on the "terms" that were or were not mentioned.....
76346
Contracts are promises that are legally enforceable.  If the other person doesn't perform, they are said to be "in breach of contract" and can be sued in civil court to compel performance or pay damages.\n\nContracts are essential to any business, because they create predictability in business dealings. Because you can sue for breach of contract you can be reasonably sure that the other party in your agreement will try to fulfill their duties.  This certainty encourages transactions and enhances the wealth of society.