Part III The Contractual Legal Framework, 8 The Nature and Functions of the Contractual Framework for Investments
From: The Three Laws of International Investment: National, Contractual, and International Frameworks for Foreign Capital
Jeswald W. Salacuse
- International economic law — Foreign Direct Investment — Definition of investment — Law of treaties — Consensual arrangements other than treaties
All international investment transactions are shaped by contracts. A contract under virtually all systems of law is an agreement between two or more persons that creates legally enforceable obligations. 1 An “investment contract,” for the purposes of this volume, is any contract that governs or relates to an international investment. 2 In some cases, for example a portfolio investment in shares of a publicly traded company, the related contract may be relatively simple; however, other investment transactions, such as the construction and operation of a...