APPLICABLE LAW Meaning and
Definition
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APPLICABLE LAW refers to the set of legal regulations and rules that are relevant and can be enforced in a particular jurisdiction or context. It is a term commonly used in legal contexts, particularly discussed in contract law, international law, and regulatory compliance.
The phrase "applicable law" implies that not all laws are relevant or legally enforceable in a given situation. It specifically identifies the legislation or legal principles that are applicable to a specific matter or issue. The determination of applicable law is crucial to ensure fairness, justice, and order in legal proceedings.
In contractual matters, the applicable law is often agreed upon by parties involved in a contract. This choice of law provision allows them to specify which jurisdiction's laws will govern any disputes or legal issues that may arise. However, in the absence of such a provision, courts may apply conflict of law rules to determine which jurisdiction's laws should apply.
In regulatory compliance, applicable law is the legal framework that regulates specific industries, activities, or practices. Businesses and individuals must adhere to these laws to ensure compliance and avoid legal consequences.
Moreover, applicable law also plays a significant role in international law. When legal issues arise between countries or involve cross-border transactions or disputes, identifying the applicable law becomes essential to resolve conflicts and ensure consistent application of rules and regulations.
Overall, applicable law directs courts, arbitrators, businesses, and individuals to recognize and apply the specific set of laws that are pertinent to a particular situation, resolving disputes, and ensuring legal compliance.
Etymology of APPLICABLE LAW
The word "applicable" originated from the Latin word "applicābilis", which is derived from the verb "applicāre", meaning "to apply" or "to attach". The suffix "-able" indicates the ability or capacity of something.
The word "law" has an Old English origin from the Germanic word "lagu", meaning "a rule or custom". It has cognates in other Germanic languages, such as the Old Norse "log" and the Gothic "lagus".
When used together, "applicable law" refers to laws that are relevant or capable of being put into effect in a particular situation. It signifies the legal provisions that are appropriate and can be applied to a specific case or jurisdiction.
