Bus law Case Study Example | Topics and Well Written Essays - 2500 words

Bus law - Case Study Example The Verbal Negotiations Winston Graham, a partner of antic dealers, went to Daly Car Sales Ltd., a commercial vehicle dealer, to purchase a van after one of their three delivery vans was â€Å"written-off† in an an accident. Graham conveyed that he was in search for a replacement vehicle that can load up to 1 ton and a cubic capacity of 200 feet. He also explained that the vehicle will be maximized for regular delivery of furniture, their business, and that the average journey would involve normally four or fine large items of furniture. Immediately, Alan Daly retorted that there was an available van that will befit Graham needs. He was referring to a White Transit XL which he warrants as a van with capacity to run at a distance of 48,000 miles on the clock and the storage capacity suitable enough for delivery of furniture. ... The asking price was L4,800 (plus VAT) but Winston counter-offered a price of L 4,500 (plus VAT). Mr. Daly finally accepted Winston’s offer and they proceeded in signing the contract of sale, the latter was a standard form contract, the nature of which implied â€Å"take it or leave it† concept. Daly wrote â€Å"White, Transit XL, 48,072 miles† as details of the object of the contract. A week after the delivery of van, the firm’s driver reported a serious oil leak and a technical problem with its clutch. These problems were conveyed to Mr. Daly via telephone who assured Graham that his company would look into the problem if it will be returned to them before the end of the week. Graham failed to follow Daly’s advice following series of delivery schedules. Said van collected five antique desks and other heavy items which reached approximately the weight of 1 ton, just when its brake failed to stop the vehicle at a junction. Luckily, they were able to escape possible accident. But such experience made the driver decide not ever to use the new van for deliveries and collection to evade possible circumstance that an accident could happen anytime van’s defective engine and brake. The firm however used the van for â€Å"light duties† until it finally came to a halt. After thorough mechanical inspection, it was reported that the van necessitate complete replacement of engine and of clutch. Report also bared that the damage is attributable to constant loss of oil. The van’s total repair will cost more than L 1,000. While at this state, Graham discovered that the vehicle has only a cubic capacity of 150 feet and a load of half a ton. The Exclusion Clause The contract of the sale of van had an exclusion clause under Clause

Critical overview of the enforcement of foreign arbitral awards in Dissertation - 1

Critical overview of the enforcement of foreign arbitral awards in Saudi Arabia - Dissertation Example The onset of globalization, which is characterized by the drastic integration of international trade into one single market, further underscored this as trade disputes and disagreements between countries emerge with the increase in international commerce. According to Lu, Verheyen and Perera, arbitration has been the most common dispute resolution mechanism today both in the international market and among parties that conduct business with sovereign states that the enforceability of awards has become increasingly important and practical.1 (p. 163-164) According to FINRA, parties may even prefer arbitration than a juridical process because the process is faster and more effective.2 Currently, the multilateral arbitration mechanism that most states are subjected to is the Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 otherwise known as the New York Convention. As of 2009, 142 out of the 192 members of the United Nations signed the convention. The majo rity of global trading organizations such as the World Trade Organization (WTO) and the North American Free Trade Association (NAFTA) also accede to this convention. It mandates all courts of the ratifying states to enforce and recognize private agreements and â€Å"arbitral awards made in the territory of a State other than the State where the recognition and enforcement of such awards are sought, and arising out of differences between persons, whether physical or legal.†3 Saudi Arabia has been receptive of foreign arbitration awards in the past and rarely elevated disputes to international fora but its courts do not automatically endorse foreign judgments.4 In April 19, 1994, the country signed the convention. Some changes have been effected with regards to enforcement of arbitration awards. When Saudi signed the convention, a royal decree (No. M/11 of 16/7/1414) was released, which provided that recognition and enforcement of foreign awards should be limited to those made in the territory of States, which have also acceded thereto.5 This among other factors such as the persistence of Islamic law and the effects it entail in doing business in the country has made the situation complicated and at times problematic particularly in terms of the enforcement of arbitral awards. This problem would be investigated by this research, with the initial expectation that there are numerous variables that hinder and limit such enforcement particularly in the religious and bureaucratic spheres. 3.0 Scope of the Study In pursuing the research objective, this research would focus on two important conventions that Saudi is party to: the Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 and the Riyadh Convention. These mechanisms would be used as the standards by which arbitration awards enforcement are either successful or a failure exclusively in the Saudi experience. 4.0. Methodology Since this is a descriptive and analytical research, this study will not use models for empirical inquiries. Instead, this researcher will use a combination of ‘black-letter' doctrinal analysis and ‘law in context' approaches. The idea is to capture the complexity of having to discuss the general subject of