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The Law of Contract under the Rome Convention


Each nation, territory or country possesses its own set of laws. It would be beneficial and
advantageous if these laws can be harmonizing. In International business and work several
harmonizing process of international laws took place. This creates few problems and
complexity in international affairs. The applicability of certain laws therefore becomes the
basis of a legal system and how this can be utilized in the greater complexity of certain
involvements and participations. The harmonization of these different laws has been
addressed through private international law or systems of conflict of laws. The need to
harmonize these laws, as mentioned, can be seen in the fact that increasing globalization has
led to more international transactions in which the participating parties are also protected by
their respective national laws. The European Union, together with some other nations, ratified
a unification system for the application of contractual obligations that would be followed for
the European Economic Community and its members. Many countries of Europe signed the
Rome Convention after the preparation of it. The Rome Convention, as it came to be known,
is the Applicable Law to Contractual Obligations and was convened to create at least a
harmonized, if not a unified, body of law within the scope of the European Union. This thesis
gives insights on the challenges faced by individuals in international transactions while
undertaking contracts with respect to Rome Convention.


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