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Article: Enforcing Choice of Law Clauses in Nigeria: [Pacta (will not be) Sunt Servanda] -Where The Transaction is Illegal.
- Article from:
- Mondaq Business Briefing
- Article date:
- April 16, 2004
CopyrightCOPYRIGHT 2004 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Abstract
As the inflow of Foreign Direct Investment continues unabated in Nigeria, investors are increasingly adopting mechanisms to protect their investments against legal and regulatory risks. One of such methods being adopted in commercial transactions is the use of choice of law clauses. Whilst most investors are inclined to choose foreign laws to govern their contracts, it has become imperative to examine the enforceability of choice of law clauses in Nigeria in particular where the transaction is deemed to be illegal.
Introduction
Choice of law clauses are of critical importance to international transactions. As noted by the United ...
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