A FOCUS ON MINIMIZING POTENTIAL RISKS BY PROCEEDING UNDER A BILATERAL OR MULTILATERAL TREATY INSTEAD OF A CONTRACT
A FOCUS ON MINIMIZING POTENTIAL RISKS BY PROCEEDING UNDER A BILATERAL OR MULTILATERAL TREATY INSTEAD OF A CONTRACT Chanakya Kene, Student of Law at Maharashtra National Law University Nagpur. Download Manuscript ABSTRACT The paper discusses the advantages of utilizing bilateral or multilateral treaties instead of contracts in international business. It specifically focuses on the various international agreements as an example of a treaty that establishes clear legal obligations and reduces potential conflicts between parties. The document argues that treaties provide greater legal certainty and stability for organizations, particularly in complex legal situations involving different parties. It highlights the disadvantages of depending solely on contracts, such as ambiguous terms and inadequate dispute resolution mechanisms. The document mentions that bilateral investment treaties have been controversial and calls for a review of the traditional model. It emphasizes the benefits of treaties, including the ability to regulate foreign direct investment and minimize risks. The paper concludes that negotiating treaties may require more effort, but they ultimately offer greater stability and minimize potential risks compared to contracts. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume I, Issue III, Page 17- 30. Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. Copyright © LIJDLR 2023 Recent content A FOCUS ON MINIMIZING POTENTIAL RISKS BY PROCEEDING UNDER A BILATERAL OR MULTILATERAL TREATY INSTEAD OF A CONTRACT IMPACT OF ARTIFICIAL INTELLIGENCE ON LABOR RIGHTS AND JOB DISPLACEMENT INTELLECTUAL PROPERTY THEFT- A NATIONAL SECURITY ISSUE FREEDOM OF SPEECH AND SOCIAL NETWORKING SITES: RIGHTS, RESTRICTIONS AND FUTURE PROSPECTS HARMONIZING DIVERSITY: THE QUEST FOR A UNIFORM CIVIL CODE LEGALITY OF EUTHANASIA IN INDIA: RIGHT TO DIE WITH DIGNITY