Law360, New York (May 25, 2010, 2:24 PM EDT) -- The most sophisticated and voluminous contracts can be reduced to seven basic concepts — what I have called the “Seven Ps.” These are Preliminary, Parties, Purpose, Payment, Parol, Practicalities and Penalties. Keep this in mind, and you will go a long way toward ensuring that your international agreements do for you what you want, and expect, them to.
Number One: Preliminary
Think of these preliminary concepts when you focus on your international contract. International parties involve different countries and different legal systems, with different expectations. There...
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