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Effects Of Commercial Contract

Author

Listed:
  • Ana-Maria Florea

    (University of Craiova Faculty of Law and Social Sciences)

  • Constantin Giurca

    (University of Craiova Faculty of Law and Social Sciences)

Abstract

The contract is a legal instrument used to organize economic and social life. International trade agreement has certain features in order to ensure the international exchange of goods and services between the Contracting Parties. In terms of commercial contract, there is a foreign origin element, that gives the parties the right to determine the law to govern the contract. A fundamental aspect of commercial contract, in addition to that of determining the law applicable to judicial report established between the parties, it is also the mechanism of interpretation of the contract in case of a conflict due to obscure or inaccurate contractual clauses. Effects of commercial contract are governed by two principles, namely the principle of the binding force of the contract and the principle of relativity of the contract.

Suggested Citation

  • Ana-Maria Florea & Constantin Giurca, 2014. "Effects Of Commercial Contract," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 2(42), pages 76-82.
    • Handle: RePEc:aio:aucsse:v:2:y:2014:i:42:p:76-82
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    File URL: http://feaa.ucv.ro/AUCSSE/0042v2-011.pdf
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    References listed on IDEAS

    as
    1. René M. Stulz, 1996. "Rethinking Risk Management," Journal of Applied Corporate Finance, Morgan Stanley, vol. 9(3), pages 8-25, September.
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    More about this item

    Keywords

    contract ; internationality; commerciality; customary; applicable law;
    All these keywords.

    JEL classification:

    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)

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