i'm joining world scholars cup can ya'll help me with this question?
How does contracts differ between countries?
How are contracts negotiated?
thanks
Answers
Contracts differ between countries:-
What the laws are and the legal systems. Along with the local customs and procedures.
First there is common law - used in the USA, and the UK. This is different from Civil law which is used in many other nations which is based on a written code. Whereas Common law uses a huge base of precedence (i.e. what has the court decided in the past).
Then there what the law actually is. For example in New Zealand employers and employees must have a written employment contract. But in the USA there is no need for a written contract of employment - in fact US law allows firing at will for almost any reason.
Then there are the realities on the ground. Many nations have weak legal systems which make enforcing contracts harder. Thus the two parties will need to build up stronger trust - which is why some employers will rely a lot on family members for their workers. The family is easier to trust.
And of course the contract will be written in different languages depending on the country in question.
Contract Negotiations:-
Contract negotiations are a process that involves discussing and compromising on contract terms in order to reach a final agreement between two or more parties involved in a transaction. In most contract negotiations, each party tries to negotiate for the best interest of themselves or their business. There is a lot of back and forth communication, but most contract factors boil down to risks and revenues.
Contracts that are negotiable can include real estate leases, manufacturer warranties, employment contract, business deals, and financial contracts. The negotiation aspect of a transaction is very important because once the contract is final, all parties are legally bound to the terms of the contract terms and cannot overlook these terms without being liable.