Governing Law Definition

GLOSSARY

/ˈɡʌv(ə)nɪŋ/ /lɔː/

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What does Governing Law mean?

Governing law is the law stipulated in a contract to determine a dispute. Where there is no valid governing law clause, the law to be applied, the applicable law, will be determined in accordance with the relevant regulation, convention, legislation or common law rules.

View the related checklists about Governing Law

Governing law and jurisdiction clauses in commercial contracts―checklist

Governing law and jurisdiction clauses in commercial contracts―checklist This Checklist of resources sets out some of the issues when considering governing law and jurisdiction in the context of commercial contracts. Governing law and jurisdiction clauses are categorised as boilerplate clauses in an agreement. For more information on boilerplate clauses, see: Boilerplate clauses—overview. For details about the role of boilerplate clauses and approaches to reviewing and drafting common boilerplate clauses, see Practice Note: The role of boilerplate. A governing law clause (also known as an applicable law clause) is used to allow the parties to specify the substantive law that will apply to the interpretation of an agreement and, in the event of a dispute, in relation to it. For an example of a governing law clause, see Precedent: Governing law clause. The applicable law clause in a contract will usually be set out alongside a jurisdiction clause. It is important to note that jurisdiction and governing law are separate issues. A jurisdiction clause is necessary to allow the parties to...

Commercial contract review and execution (business personnel)—checklist

Commercial contract review and execution (business personnel)—checklist This is a Checklist for in-house lawyers to provide to those of its employees (eg procurement or sales professionals) who are engaged in negotiating commercial contracts. It sets out the primary issues to consider when negotiating or reviewing a business-to-business commercial contract, and includes practical guidance. This Checklist may be suitable for use in low risk contracts where employees who are not legally qualified are authorised to conduct negotiations and contract review. It may be customised as required to work with a company playbook on contract negotiation and review, to include suggested fall-back drafting positions and escalation points for recourse to a legal team as appropriate. As it is intended to be used by non-legal professionals, it does not include links to further detailed legal commentary in each case. For a Checklist intended for use by legal professionals with links to further information, see: Commercial contract drafting and review—checklist. In-house lawyers should check that business personnel engaged in negotiating and concluding commercial contracts...

Approaching commercial litigation funders—checklist

Approaching commercial litigation funders—checklist This Checklist sets out the key issues that legal representatives and/or litigants seeking commercial third party funding should consider in advance of approaching a funder. You may also find the following other checklists useful in this area: • Key documents and information required by funders—checklist • What funders look for—checklist Issues and considerations Comments Lawyer/litigant notes Finding a funder How do you go about identifying and choosing a funder that offers the type of funding looked for? There are various differences between funders, including in relation to the types of cases that they are willing and able to fund. There are various ways in which you might identify a funder for your case, including:● speaking to colleagues and peers who have worked with funders● approaching a broker (see further below)● reviewing the website of the Association of Litigation Funders of England and Wales (for domestic funders)● checking the Law Society’s Litigation Funding magazine● researching individual funders online by their websites● once you have identified funders,...

Dealing with a postponed or cancelled event—checklist

Dealing with a postponed or cancelled event—checklist Events in 2020 and 2021 concerning the worldwide pandemic resulted in many local, national and international events, including sporting events, concerts and conferences involving large gatherings of people, being cancelled, postponed or rescheduled because, for example, artists and suppliers had to pull out of their commitments resulting in the events becoming unviable. This Checklist outlines key points to be considered when an event is postponed, rescheduled or cancelled. See also: • Drafting and negotiating a force majeure clause—checklist • Coronavirus (COVID-19) and contractual obligations—checklist • Practice Note: Drafting for unforeseen events—commercial contracts • Practice Note: Reviewing commercial contracts to minimise financial difficulties • News Analysis: Coronavirus (COVID-19) and insurance law implications • News Analysis: Four key coronavirus (COVID-19) insurance coverage issues • News Analysis: What does coronavirus (COVID-19) mean for the events industry? • Q&A: Will our insurance cover us for coronavirus (Covid-19)? • Q&A: Can my force majeure clause protect me against the economic impact of coronavirus (COVID-19)? • Q&A: Is a...

Discover our 603 Practice Notes on Governing Law

Licence to carry out environmental investigations

Licence to carry out environmental investigations Parties 1 [insert name of licensor] [of [insert address] OR company number [insert company number] whose registered office is at [insert address]] (the Licensor) 2 [insert name of licensee] [of [insert address] OR company number [insert company number] whose registered office is at [insert address]] (the Licensee) 1 Background (A) The Licensor is the registered [freehold OR leasehold] owner of the Property. (B) The Licensee has expressed an interest in [acquiring OR leasing] the Property. (C) The Licensor will permit access to the Property by the Licensee and the Consultant for the purpose of carrying out investigations as to ground conditions at, in, on, under or about the Property, subject to the terms of this Licence. 2 Definitions Competent Authority • means any statutory undertaker or any public local or other authority or regulatory body or government department, or any other body exercising powers under statute or by royal charter or any court of law or any...

Short-form facility agreement (term loan): single company borrower—bilateral—unsecured

Short-form facility agreement (term loan): single company borrower—bilateral—unsecured Facility agreement This Agreement is made on [date] Parties 1 [insert name of Borrower], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Borrower); and 2 [insert name of Lender], of [insert address] (the Lender). It is agreed as follows: 1 Definitions and interpretation 1.1 In this Agreement, unless otherwise provided: Business Day • means a day, other than a Saturday, Sunday or public holiday, on which banks are open for business in London; Commitment • means £[•] ([•] Sterling) minus any amount reduced or cancelled in accordance with this Agreement; Commitment Period • means the period commencing on the date of this Agreement to and including [•]; Default • means an event that with the giving of notice, lapse of time or other applicable condition would be an Event of Default under Clause 16; Drawdown • means [the OR a] utilisation of the...

Dive into our 709 Precedents related to Governing Law

How might the European Commission proposal for new conflict of law rules for assigned claims impact the secondary loan market?

How might the European Commission proposal for new conflict of law rules for assigned claims impact the secondary loan market? Summary This Q&A refers to the European Commission’s proposal for a Regulation on the law applicable to the third-party effects of assignments (the Proposal) published on 12th March 2018, which could have an impact on the market for trading participations in syndicated and bilateral loans. Both of the Loan Market Association (LMA) and the City of London Law Society made representations asking for the Proposal to be shelved or at least amended to accommodate current market practice in the secondary loan market. Their representations are available on their respective websites. It is fair to say that in its original form the Proposal would have disrupted the secondary loan market by making due diligence on the part of a buyer much more complicated for the reasons given below. The UK indicated on 9 July 2018, shortly after publication of this Q&A, that it would not opt in...

In light of coronavirus (COVID-19), is arbitration preferable over litigation as a method of dispute resolution given the increased flexibility inherent in arbitration proceedings generally?

In light of coronavirus (COVID-19), is arbitration preferable over litigation as a method of dispute resolution given the increased flexibility inherent in arbitration proceedings generally? Clare Ambrose, Twenty Essex This is a ‘once in a generation’ challenge. We will see over the next months how the court system and the arbitration community respond. Arbitration is more flexible, and it is already common for directions to be made electronically, CMCs to be heard by telephone and disputes to be resolved by documents only. It is hoped that arbitration will be agile to meet the needs of parties. If so, and virtual hearings (or even partially virtual hearings) start to work well, then they will become an attractive feature. Corporations weathering this crisis will be mindful of resilience for the next one. Arbitration will be attractive if it is seen to work in times of crisis. If it becomes cheaper and more sustainable too then that must be a bonus. Hamish Lal, Akin Gump The tangible and significant impacts of...

See the 62 Q&As about Governing Law

Arbitration or not arbitration? (Bugsby Property LLC v Omni Bridgeway (Fund 5) Cayman Invt Ltd)

Arbitration analysis: An agreement varying a litigation funding agreement contained a clause providing that any party shall be entitled to resolve a dispute by referring it to a KC who would be instructed to provide a final and binding opinion. The court held that the claimant did not have a good arguable case that the clause was an arbitration agreement, and the court could not, therefore, appoint an arbitrator pursuant to section 18 of the Arbitration Act 1996. Written by Jennifer Haywood, barrister, arbitrator and mediator at Serle Court.

Private Client weekly highlights—21 November 2024

This week’s edition of Private Client highlights includes: (1) Wigglesworth v Beetson, in which the claimant failed in an action for estoppel and adverse possession; (2) the Hansard Society to host a briefing on parliamentary process for Assisted Dying Bill; (3) Khan v Khan, which considered family property and constructive trusts; (4) analysis of the Autumn Budget announcement to bring unused pension funds and death benefits within the scope of IHT; (5) Palmer v Sans, which found that there was no transaction at an undervalue where property was already held on trust for the transferee; (6) KA v FA (The Secretary of State for the Home Department intervening), where the court recognised an overseas adoption notwithstanding failure of common law test; and (7) Kireeva v Bedzhamov, in which the Supreme Court has confirmed the application of the immovables rule to English property.

Read the latest 607 News articles on Governing Law

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