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Relationship Between Private International Law and Negotiable Instrument Essay

  • Submitted by: todolaenoche
  • on May 9, 2013
  • Category: College Admissions
  • Length: 2,390 words

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Below is an essay on "Relationship Between Private International Law and Negotiable Instrument" from Anti Essays, your source for research papers, essays, and term paper examples.

Private International Law is the body of rules of the domestic law of a state which applies when a legal issue contains a foreign element, and it focuses on whether a domestic court should apply a foreign law or jurisdiction to a foreign court when there is a conflict of law which involve foreign element (emphasis added)[1], Lord Nicholls of Birkenhead gave his meaning to define conflict of law, according to him “Conflict of laws and jurisprudence is concerned with the just disposal of proceedings having a foreign element[2].”

For instance it would be unjust if a dispute with a French element is decided by Indian court applying only the rules of the law in force in India merely because it is Indian court which is deciding it; if the result would have been different had a French court decided it applies the rules of French Law.[3] Hence, conflict of laws is a general term to refer to disparities among laws, regardless of whether the relevant legal systems are international or inter-state.

Negotiable Instrument in law may be defined to mean a piece of paper or document that customarily used to guarantee payment to a specified person or assignee. On the other hand it may also be used in trade and commerce as aid to the transactions between merchants as well as others caught up in trade and commerce. An Example of negotiable Instruments may include bills of exchange, cheques, promissory notes, divided warrants, share warrants, bearer debentures, drafts and certificate and deposits.

Therefore it is impliedly that negotiable instrument must mention the person to whom it is directed and once the instrument has been transferred the person who receive it obtain full legal title to the instrument.
Before negotiable instrument become into use there was inconveniences and risks which were faced by different people who want to conduct trade activities hence lead to the need of contract which involve negotiable instrument.   In 1930-31, six international conventions relating...

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Relationship Between Private International Law and Negotiable Instrument. Anti Essays. Retrieved May 22, 2018, from the World Wide Web: https://www.antiessays.com/free-essays/Relationship-Between-Private-International-Law-And-469369.html