Principles of Contract Law Underlying Business Activities in the Globalization Era

DOI

10.2991/icblt-18.2018.17How to use a DOI?

Keywords

legal principles; contract law; business activity; globalization era

Abstract

This paper analyzes the principles of business contracts in the era of globalization in Indonesia. Normative law is used in designing the study in this paper. The results show that the principles of contract law are the foundation for the conduct of business activities in Indonesia. The principle of contract law is regulated in the Indonesian Civil Code and continuously existed and developed in the world of transactions in the era of globalization of the free market. Essential and generally applicable contractual principles for every business contract in this era of globalization are freedom of contract, agreement of the parties, agreements that bind the parties with good ethics. Contract law plays a vital and strategic role in business activities, both in starting a business relationship, maintaining the implementation of business transactions and in resolving business disputes. Therefore, contracts/agreements are the main framework used as a basis for determining relationships for economic actors.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - I Nyoman Putu Budiartha
PY  - 2018/11
DA  - 2018/11
TI  - Principles of Contract Law Underlying Business Activities in the Globalization Era
BT  - Proceedings of the International Conference on Business Law and Local Wisdom in Tourism (ICBLT 2018)
PB  - Atlantis Press
SP  - 70
EP  - 73
SN  - 2352-5398
UR  - https://doi.org/10.2991/icblt-18.2018.17
DO  - 10.2991/icblt-18.2018.17
ID  - Budiartha2018/11
ER  -