Dec 19, · Commercial Law Sample Essays errors. We carefully read and correct essays so that Commercial Law Sample Essays you will receive a paper that is ready for submission or publication. We guarantee that Commercial Law Sample Essays you will be provided with an essay that is totally free of any mistakes. Each essay is formatted according to the required academic referencing style, /10() English essay assignment. The resultant experimental data indicate that they can easily understand without an essential commercial law coursework way from writing and digital technologies for more about social inequity than individual ideas. This can be identified, the word drug, but most important details of handout, see chanock, ; for commercial law by professor hi, i need help with my commercial law est, the questions are really basic, im given with a case and i have to use to IRAC methord to
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The most known method for the dispute resolution is litigation all over the world, which could be also named as court jurisdiction, and it commercial law essay based on the domestic law of the countries.
Within the domestic jurisdiction each country has its commercial law essay legal system which differs from countries to countries. Although litigation is preferred method it is not very convenient because, the workload of courts causes long judgments and sometimes the expenditures of courts are very high. Due to these facts, an alternative mechanism to the litigation has become necessary.
Arbitration is an alternative mechanism of dispute resolution that parties can choose the law, tribunals, and place. This form of alternative dispute resolution is based on the mutual consent of parties and this consent must be contractual which is called as arbitration agreement. On the basis of this definition, commercial law essay, clearly it is a simple consent between two or more parties under the arbitration procedure to treat the dispute under arbitration.
The applicability of arbitration agreement varies by countries due to the different legal regimes, commercial law essay. For the enforceability of the award New York Convention regulates this issue.
Before we analyze both regulations, the main purpose is to create integrity with respect to international arbitration proceedings. As will be argued this essay will discuss the main characteristics of UNCITRAL Model Law and New York Convention with respect to the arbitration agreement. UNCITRAL Model Law was formed for countries to support them to develop their laws on international commercial arbitration and harmonise it with their domestic laws [3].
As it is clear from the above articles, commercial law essay, it is a soft law regime and only applies to countries that implement model law in their national legal regime, commercial law essay.
The main purpose is to form a legal framework for the international commercial arbitration proceedings. Arbitration agreement is regulated commercial law essay the article 7 of the UNCITRAL Model Law; according to this article arbitration agreement is defined as a process commercial law essay the disputes between parties before submitting them to arbitration [4]. An arbitration agreement may be in the form of an arbitration clause in a contract or in the form of a separate agreement.
According to the article 7 of the Model Law, there should be a dispute which is existing or may exist in the future in order to present to arbitration relating to the legal relationship between them whether contracted or not.
However the arbitration agreement could be in an agreement as a clause or a separate agreement. Furthermore, according to the option 1 of the Model Law the arbitration agreement should be in written format. This article defines the arbitration agreement and provides the formal requirements to submit to arbitration. As it is mentioned one of the main rationales of the UNCITRAL Model Law is to unify an international commercial arbitration proceeding for countries to adopt within their domestic legislation.
Commercial law essay it also targets to decrease the differences of each member state while the interpretation of liabilities under the New York Convention. When examining the commercial law essay and disadvantages of UNCITRAL Model Law, advantages far outweigh.
Most significant advantage is to setting example legislation for countries. Although it is not mandatory, exemplifying status enables countries to adopt this model law within their domestic law. For example, starting to draw an international commercial arbitration code from the beginning could be difficult because it should contain international principles and should be compatible with the domestic legislation of each country.
Totally, Model Law is formed with 36 articles and it consists the general provisions, arbitration agreement, composition and jurisdiction of arbitral tribunal and other arbitral proceedings which implies that the model law is formed from a to z.
Another positive aspect is that UNCITRAL Model Law is formed with international principles to unify the other applications of countries. At this point, it is aimed to decrease the differences between applications of countries. Common use makes arbitral procedure easier in practise for the disputes arise in different jurisdictions. Conversely, there is no doubt that voluntary compliance is the most significant drawback of the UNCITRAL Model Law.
Although it is not mandatory and set of recommendations, the legislation is already adopted by 67 states and 97 jurisdictions [8]. As can be seen, there is a considerable amount of majority in practise, due the mandatory application of the New York Convention. Another drawback is the extent of the Model Law. Clearly, UNCITRAL Model Law is only applicable about international commercial arbitration which limits the extent of the legislation for other disputes such as non-commercial ones.
Beyond any doubt, validation of the arbitration agreement is very important otherwise arbitration is out of the question. For the valid arbitration agreement it should be in writing in terms of the evidence and also it should be signed by the both parties of the agreement.
So, arbitration agreement should provide the formal requirements according to the applicable law. The New York Convention of is an international regime for the enforcement of foreign award and it was adopted by United Nations, commercial law essay. However we should bear in mind that New York Convention is only applicable for non-domestic or commercial law essay arbitrations.
If we consider the key features of the Convention for commercial law essay states:. Article II of the Convention deals with the arbitration agreement and according to this article II 1 :. Each Contracting State shall recognize an agreement in writing under which the parties undertake to submit to arbitration all or any differences which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not, concerning a subject matter capable of settlement by arbitration, commercial law essay.
Without an effect a final award is trivial, but New York Convention brings it into effect. Binding commercial law essay of the Convention increase the applicability of its in practise and by this way it is spread around the world easily. Parties cannot disagree or dispute the rules of the New York Convention.
When it is examined broadly, there are not many drawbacks of the New York Convention Because countries exist in the world and of them have already signed the agreement and now they are party to the Convention. Conversely, a Convention on a large scale that much should also have unified the arbitration proceedings beside the recognition and enforcement of the final award, commercial law essay.
With the considerations above, arbitration agreement demonstrates the intention of parties to submit their dispute to the arbitration instead of national courts or litigation. However arbitration agreement must provide the formal requirements to be effectual because it constitutes the jurisdiction and arbitral tribunal over the power of national jurisdiction. Power, that parties have, is assigned to the arbitral tribunal by them.
At this point, commercial law essay, global regulations required and they have already been made which are UNCITRAL Model Law and New Commercial law essay Convention, commercial law essay.
Although they differ from each other, they provide integrity together, commercial law essay. In accordance with the examination of the both regulations, it is possible to argue that arbitration agreement can be regulated under them because New York Convention standardise the recognition and enforcement of the final award globally which enable international arbitration to become more applicable and reliable.
Furthermore, UNCITRAL Model Law is a set of recommendations with respect to arbitrations about international commercial law and it enables states to adopt the model law in their domestic legal regime. The main purpose of the both regulations is to establish a unique and single framework and decrease the divergences between the applications of the countries.
For these reasons arbitration agreement should be regulated under these regulations. With the globalisation of the international commercial law essay, disputes have arisen much more commercial law essay before and many companies submit their dispute to the arbitration without any doubt to resolve their dispute faster, cheaper and much more reliable way, and it is only possible with the regulations under International Conventions with the participation of the countries all over the world.
Establishing a single framework will definitely achieve it. Moses, The Principle and Practise of International Commercial Arbitration Cambridge University Press Skip to content. Gürkan Deniz. UNCITRAL Model law; set of rules based on soft law regime, set of recommendations, is not mandatory, is a system based on commercial law essay compliance. If we consider the key features of the Convention for member states: international convention based on international public law, directly applicable, commercial law essay, hard law regime, binding between member states.
Moses, The Principle and Practise of International Commercial Arbitration Cambridge University Press 20 [14] Karen Tweeddale and Andrew Tweeddale, A Practical Approach to Arbitration Law Oxford University Press [15] Andrea Miglionico, Domestic and International Recognition of Arbitration Lecture Slides, University of Reading [16] Alan Redfern and Martin Hunter, commercial law essay, Redfern and Hunter on International Arbitration 7th edn, Oxford University Press 72 [17] Ibid.
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The fourth Jonathan Hirst QC Commercial Law Lecture
, time: 54:18Arbitration Agreement Under Uncitral Model Law and New York Convention |
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