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Books > Law > International law > Private international law & conflict of laws
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International Contracts and National Economic Regulation - Dispute Resolution Through International Commercial Arbitration (Hardcover)
Loot Price: R6,616
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International Contracts and National Economic Regulation - Dispute Resolution Through International Commercial Arbitration (Hardcover)
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The growth of national economic regulation and the process of
globalization increasingly expose international transactions to an
array of regulations from different jurisdictions. These
developments often contribute to widespread international
contractual failures when parties claim the incompatibility of
their contractual obligations with regulatory laws. International
disputes of such a nature inevitably involve both public and
private law and raise questions about jurisdiction, applicable
contract law, economic regulations and their legitimate
international application. The author challenges conventional means
of dispute resolution and argues for an interdisciplinary approach
whereby disciplines such as international economic law, conflict of
laws, contract law and economic regulations are functionally united
to resolve international and multifaceted regulatory disputes. He
identifies the normative foundation of contract law as an important
determinant in this process, contending that contract law is
essentially neutral and underpinned by the concept of corrective
justice, while economic regulations are mainly prompted by
distributive justice. Applying this corrective/distributive justice
dichotomy to international contracts, the author critically
assesses major conflict of laws approaches such as "proper law",
"the Rome Convention" and "governmental interest analysis", which
could disregard either public interest or private rights. The
author, taking these theories into account, proposes an alternative
two-dimensional interest analysis approach. He tests the viability
of this approach with reference to arbitral awards and court
decisions in various jurisdictions and concludes that it uniquely
fits into the structure of international commercial arbitration. In
adopting this approach arbitrators would take into account both
corrective and distributive justice, and to the extent that
corrective justice prevails, would be able to avert a total failure
of the contract.
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