What Country’s Laws Apply When There Is a Contractual Debt Relationship Between Foreigners

20 Feb What Country’s Laws Apply When There Is a Contractual Debt Relationship Between Foreigners

Applicable law in contractual debt relations

Contractual debt relations are subject to the law clearly chosen by the parties. The choice of law, which can be understood without hesitation from the provisions of the contract or the terms of the condition, also applies.

The parties may decide that the chosen law will apply to all or part of the contract.

The choice of law can be made or changed by the parties at any time. The choice of law after the establishment of the contract is effectively valid in retrospect, without prejudice to the rights of third parties.

If the parties have not made a choice of law, the law that is most closely related to that contract applies to the relationship arising from the contract. This law, characteristic of the claims, the debtor during the founding of the convention mutadmesken law, commercial contracts, the debtor’s claims established by characteristic or professional activities in the workplace, unless there is the law of the settlement, the debtor claims that if you have multiple sites of the characteristic in question is considered to be most closely in relation with the contract law of the workplace. However, if there is a law more closely related to the contract according to all the terms of the case, the contract shall be subject to this law.