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September 10, 2016
ZAFAR AZEEM
International trade is increasing day by day, small and big countries alike are mutually engaging in the transfer of huge quantities of goods and services. As with any contractual relationship, these mutual actions, between the trading partners may at times, create legal challenges and problems. However, due to the international nature of these undertakings, potential difficulties are exacerbated if and when they do become present.The issues which tend to give rise to the complications are the formation of contracts, distribution of agreements, joint ventures and the setting up of foreign companies or subsidiaries. Such transactions can pose a wide-range of legal uncertainties and it is trite that uncertainty does not bode well in contractual undertakings. For example, determining appropriate jurisdictions, interpreting applicable legal norms such as promissory estoppels and the enforcement of bilateral or unilateral promises1 are particularly troublesome.As per …