Applicable law Definition

GLOSSARY

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What does Applicable law mean?

governing law is the law stipulated in a contract to determine a dispute. Where there is no valid governing law clause, the law to be applied, the applicable law, will be determined in accordance with the relevant regulation, convention, legislation or common law rules.

View the related checklists about Applicable law

MVNO agreement—checklist

MVNO agreement—checklist This Checklist covers some of the main provisions to be included in a mobile virtual network operator (MVNO) agreement under which a mobile network operator supplier will provide wholesale access services to an MVNO for resale to its own retail customers. It covers some of the main provisions that are specific to an agreement of this kind. See also the Precedent: MVNO agreement. In this Checklist, the following definitions are used: • Agreement—means the MVNO agreement between the MVNO and the Supplier for the provision of the Services • End-User—means a customer of the MVNO • IPR—means intellectual property rights • MVNO—means mobile virtual network operator, the customer in the Agreement • Services—means the wholesale network services being provided to the MVNO by the Supplier • Supplier—means the mobile network operator providing network services to the MVNO The third column can be used to record observations or comments as the Checklist is worked through. Checklist Further information Notes (if any) General terms and conditions ☐ Consider duration....

Governing law and jurisdiction clauses in commercial contracts―checklist

Governing law and jurisdiction clauses in commercial contracts―checklist This Checklist of resources sets out some of the issues when considering governing law and jurisdiction in the context of commercial contracts. Governing law and jurisdiction clauses are categorised as boilerplate clauses in an agreement. For more information on boilerplate clauses, see: Boilerplate clauses—overview. For details about the role of boilerplate clauses and approaches to reviewing and drafting common boilerplate clauses, see Practice Note: The role of boilerplate. A governing law clause (also known as an applicable law clause) is used to allow the parties to specify the substantive law that will apply to the interpretation of an agreement and, in the event of a dispute, in relation to it. For an example of a governing law clause, see Precedent: Governing law clause. The applicable law clause in a contract will usually be set out alongside a jurisdiction clause. It is important to note that jurisdiction and governing law are separate issues. A jurisdiction clause is necessary to allow the parties to...

LCAM Expedited Arbitration Rules (2022)

LCAM Expedited Arbitration Rules (2022) Background Several arbitral institutions and indeed even the UNCITRAL have in recent years developed expedited or fast track rules for low value disputes and for parties looking to avoid a lengthy arbitration process. Typically, these rules provide for the arbitral process to be conducted on a truncated timeline with a final award to be rendered within three or six months of commencement. For a general discussion on Expedited Rules, see Practice Note: Expedited (aka fast-track) arbitration. This note considers LCAM’s Expedited Arbitration Rules (the Expedited Rules), which have been in force since 1 September 2022, see Practice Note: LCIA (2020)—guidance on creation of a fast-track procedure. As Article 1.2 of the Expedited Rules state, they entail ‘…a complete stand-alone documents-only procedure for the resolution of disputes through arbitration by a sole arbitrator appointed by LCAM. The procedure administered by LCAM under the Rules is intended to be simple, expedited and cost effective’. The LCAM Expedited Rules stand out from the crowd in the following...

Key cross-border guidelines for insolvency or restructuring cases

Key cross-border guidelines for insolvency or restructuring cases Introduction In addition to the formal provisions of the UNCITRAL Model Law on Insolvency (enacted in England by the Cross-Border Insolvency Regulations 2006 (CBIR 2006), SI 2006/1030) (see Practice Note: UNCITRAL Model Laws—overview), and the Regulation (EU) 2015/848 (OJ L141 5.6.2015 p 19), Recast Regulation on Insolvency [EU Recast Regulation on Insolvency]) which applies between Member States (see: EU Recast Regulation on Insolvency (Member State to Member State)—overview), there are various other guidelines which although having no formal legal status, are sometimes voluntarily chosen by parties to assist in cross-border restructurings and insolvencies including: • INSOL International (International Association of Restructuring, Insolvency & Bankruptcy Professionals): Statement of Principles for a global approach to multi-creditor workouts II, 2017 (the INSOL principles) • INSOL Europe Turnaround Wing Guidelines for Restructuring and Turn Around Professionals (the INSOL TW Guidelines) • ALI (American Law Institute) Principles of cooperation in transnational insolvency cases among the members of the North American Free Trade Agreement...

Discover our 972 Practice Notes on Applicable law

Step-in rights and SRA compliance clauses: law firm outsourcing agreement

1 Definitions for Step-in rights and SRA compliance clauses: law firm outsourcing agreement Applicable Laws means: (a) the laws of England and Wales [and [insert other specific applicable laws, eg of other jurisdictions where the Services will be performed]]; (b) any other laws or regulations; (c) any industry codes, policies or guidelines issued by a Regulator as notified to Supplier by Customer from time to time in each case, as these are applicable to the performance of the Services; Confidential Information ...

Part 26A restructuring plan for SMEs

Part 26A restructuring plan for SMEs IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES COMPANIES LIST (CHD) IN THE MATTER OF [insert name of the Company] AND IN THE MATTER OF THE COMPANIES ACT 2006 BETWEEN [insert name of the Company] and THE PLAN CREDITORS [AND MEMBERS] (as defined herein) RESTRUCTURING PLAN (under Part 26A of the Companies Act 2006) DATED [insert date] RECITALS The Company (A) [Insert name of the Company] is a [private] limited company, incorporated in [England and Wales] with company number [insert company number] and office at [insert address] (the Company) Purpose of the Restructuring Plan (B) The purpose of this Restructuring Plan is to affect a compromise and arrangement between: [(i)] the Company and the Plan Creditors; [and (ii) the Company and the Members], in order to eliminate, reduce or prevent, or mitigate the effect of financial difficulties encountered [or likely to be encountered] by the Company that are affecting, or will...

Dive into our 438 Precedents related to Applicable law

Are the costs of closing a foreign bank account and transferring the funds to the legatee of a demonstrative legacy who is resident abroad payable out of the residuary estate or the legacy itself?

Are the costs of closing a foreign bank account and transferring the funds to the legatee of a demonstrative legacy who is resident abroad payable out of the residuary estate or the legacy itself? An English Will can cover assets solely in England and Wales, or those worldwide, and an English Will is recognised as valid in the majority of jurisdictions. However that does not mean that the applicable law will be English law in other jurisdictions as some jurisdictions have in place principles regarding succession, such as so-called 'forced heirship' which requires assets to be left in a particular way. The validity of the Will and how any foreign situs assets should be administered should be considered in this context. A demonstrative legacy is a general legacy paid out of a specific fund or asset. Therefore a payment of the funds in a foreign bank account will amount to a demonstrative legacy. Recourse should first be had to the terms of the Will when considering how such expenses are...

Can a law firm be liable to its client in a transaction where a loss is sustained through currency fluctuation?

Can a law firm be liable to its client in a transaction where a loss is sustained through currency fluctuation? This Q&A answers the following questions: • can a firm be liable to its client in a transaction where a loss is sustained through currency fluctuation arising from the firm’s delay? • what is the firm’s potential liability in: ◦ negligence, or ◦ breach of contract (under any relevant implied terms) • what if the loss arises out of a delay for which the firm is not responsible, eg delay on the part of the client or other party? • what if there is no delay to the transaction, but there is a currency fluctuation causing loss during the expected/normal transaction duration period? • can a firm limit its liability for claims arising out of the above scenarios eg through a clause in its Terms of Business? Practitioners encounter this kind of uncertainty and risk on a fairly regular basis, eg the Greek government debt crisis...

See the 84 Q&As about Applicable law

Arbitration weekly highlights—5 December 2024

This week's edition of Arbitration weekly highlights includes: a decision from the English Commercial court concerning the jurisdiction of the court to grant anti-suit injunctions against third parties; coverage of arbitration-related decisions from Canada and the USA and updates from UNCTAD, the Energy Charter Conference and OIC-AC. All this, and more in our weekly highlights.

Private Client weekly highlights—5 December 2024

This week’s edition of Private Client highlights includes: (1) the Office of the Public Guardian upgrades processing time for LPA applications; (2) Newfield v Revenue and Customs Commissioners, in which the UT held that the appellant failed to satisfy the Ladd v Marshall test for admitting new evidence on appeal regarding the existence of a trust; (3) HMRC v The Taxpayer, where the UT considered a taxpayer’s application for permanent anonymity and third party disclosure request; (4) Lefort v HMRC, in which the Tribunal upheld HMRC’s Fixed Protection revocation, notwithstanding the taxpayer having been mistaken in continuing to make pension contributions after 6 April 2014; (5) Malik v Malik, in which the court upheld a defence for adverse possession by way of estoppel; (6) the Scottish government launches a consultation on digital assets and publishes its budget for 2025–26; and (7) MPs vote in favour of Assisted Dying Bill.

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