What is the main rule on choice of law in shipping and which legislation is the most common for charterparties?
Question
What is the main rule on choice of law in shipping and which legislation is the most common for charterparties?
Solution
The main rule on choice of law in shipping is typically governed by the principle of lex loci contractus, which means that the law of the place where the contract is made or entered into will apply. In the context of charterparties, the most common legislation that is often chosen is the English law. English law is widely used and recognized in the shipping industry due to its long-standing tradition, well-developed legal system, and extensive body of case law specifically related to charterparties.
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