Part I««Sélection of Advanced texts in International Obligations Business Methodology

Sélection of Advanced texts in International Obligations Business Methodology⬅️Part I

Author and researcher

 Dr.Mohammad Shakibi Nejad
Senoir of the Faculty of Judicial

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International Commercial Law is a body of principles, treaties, convention, domestic legislation, applicable rules and regulations, and customary practices that govern international trade or business transactions.
The trade is qualified international when two or more countries are involved.
There is a part of international commercial law that includes customary rules of evidence and procedure, customary commercial law, and general principles of international law and is commonly known as Lex mercatoria.
International tools and instruments have identified contracts as international when the agreement is signed between two or more different states.

Key words: International Business Law,International Commercial Law,Contract Law

International Commercial contracts can be related to sales, carriage, insurance, or financing, but contracts especially, those related to the sale of goods are regarded as the backbone of international trade.
International Commercial Contracts
International commercial contracts are the agreement between two or more parties from different nations.
According to Article of the United Nations Convention on Contracts for the International Sale of Goods (hereinafter CISG) Vienna Convention (1980), the contracts are considered international when the parties concluding the agreement come from two or more different countries. Article 1 describes that more flexible definitions are possible, such as contracts involving a choice between the laws of different nations, or contracts with significant connections with more than one nation, or contracts affecting the interest of international trade.
It is a business organization where two or more persons agreed to join together to carry out the business for the purpose of earning the profits. It is an extension of a sole proprietorship. It is better than sole proprietorship because in sole proprietorship the business is carried out by the individual with limited capital and limited skill.
Due to the limited resources of a single individual carrying a sole proprietorship, a larger business requiring more resources and investment than available to the sole proprietor cannot be thought of such business. On the other hand in partnership, a number of partners join together with their capital to form an agreement and carry out a business jointly.

Essence of Subjects 📈📍

According to Section 4 of the Partnership Act,1932Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any one of them acting for all.
Essential requirements of a partnership
It must be an association of two or more persons.
There must exist an agreement between the partners.there must be a business undertaking or a commercial activity that is lawful. the motive must be to earn the profit and share between the partners.
If in any case, it exceeds the maximum limit then it will amount to the illegal association under Section 464 of Companies Act,2013. According to Section 11 of Companies Act the maximum number of partner in case of:
Banking purpose-10Per
Other purposes- 20Per
The partnership is an agreement in which two or more person has decided to carry out business and share the profit and losses equally. To create a legal relationship it is necessary to form a partnership agreement.

Foot note📋✍️
Section 11 in The Companies Act, 1956
11. Prohibition of associations and partnerships exceeding certain number.
No company, association or partnership consisting of more than ten persons shall be formed for the purpose of carrying on the business of banking, unless it is registered as a company under this Act, or is formed in pursuance of some other International Business Indian law.
1️⃣Subs. by Act 46 of 1977, s. 2, for the words and figures" Chapter XXXV of the Code of Criminal Procedure, 1898 ".
2️⃣Subs. by Act 31 of 1988, s. 4 ibid...w. e. f. 31- 5- 1991 .,
3️⃣Ins. by s. 5, ibid....w. e. f. 31- 5- 1991,.

Achievement of higher-ups education🗒️✒️

Knowing how to identify an international contract is important as it will impact the key issues, as well as the relevant time scales and priorities.

 A contract may be considered international if the parties are based, or hold significant assets, in different jurisdictions, or if any of the parties' obligations are to be performed in different jurisdictions. Where a contract has an international dimension to it, fundamental processes such as contract formation and execution may require particular attention, as well as the interpretation and assumption as to the contract’s key terms. 

International contracts will require consideration of further issues in addition to general commercial contract considerations. For instance, the parties should consider:

agreeing the chosen jurisdiction for resolution of any disputes under the contract and including a specific jurisdiction clause in the agreement. See: Governing law and jurisdiction clauses in commercial contracts―checklist, Practice Note: Jurisdiction—a guide for dispute resolution practitioners, and Precedent: Jurisdiction clause

the governing law (also known as applicable law) to be used for resolution of any disputes under the contract and whether to make specific provision for this in the agreement (looking at the pros and cons). See: Governing law and jurisdiction clauses in commercial contracts―checklist, Practice Notes: Applicable law—a guide for 

dispute resolution practitioners .