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Law Notes - Contracts
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If the parties should agree on how to settle disputes, what should they include in their agreement?
The parties to an international contract should probably include at least the governing law and the forum. What does that term "forum" mean?
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Why bother to agree on dispute settlement?
Should the parties to an international contract try to specify, in the contract, a method for the settlement of disputes that arise from the contract?
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What are the most common methods of settling contract-based disputes?
Generally, the most common methods of settling contract-based disputes are Mediation, Litigtion and Arbitration (listed in arbitrary order), as futher outlined in the following: