One needs to understand the context of the law, the legal system and the basics of contract law, in order to fully appreciate and ensure legal data helps to ultimately unlock business value. This chapter begins with a discussion of the differences between civil and common law systems concerning choice of governing law, before explaining the different requisite elements of valid and enforceable legal contracts. It discusses how contract law sits alongside other relevant areas of law. The chapter outlines some of the most major legal traditions before delving into the legal systems most commonly used in the world of international finance, namely English and New York law. English and New York law are significant in their dominance as the governing law for documentation used for international finance. To understand the contractual obligations formed within financial instruments, it is important to consider contract formation.
The Law, Legal System and Basics of Contract Law
Legal Data for Banking ; 11-26
2019-05-06
16 pages
Aufsatz/Kapitel (Buch)
Elektronische Ressource
Englisch
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