Applicable Law

Definition of Applicable Law

In accordance with the work A Dictionary of Law, this is a description of Applicable Law : The laws of a jurisdiction that apply to a particular transaction or agreement. Many countries are signatories of the international Rome Convention (1980; in force from 1 April 1991), which provides that the parties’ choice of law will be respected and, in the absence of a term in the relevant agreement, the country’s laws with the closest connection with the contract will apply.