Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In early 2015, two Chinese companies TT and GG entered into a lease agreement, according to which TT would rent out its luxury house to

In early 2015, two Chinese companies TT and GG entered into a lease agreement, according to which TT would rent out its luxury house to GG for three years. The arbitration clause contained in the agreement read as follows: ‘In the event of any dispute arising from fulfilling the obligations relating to this agreement, the dispute shall be submitted to Shenzhen Arbitration Commission for arbitration, and its award will be final.’ In August 2016, GG paid TT one third of the agreed monthly rental only. TT alleged that GG had breached the lease agreement; now TT insisted on claiming damages against GG. GG argued that not paying the full amount of monthly rental this time was due to the fact that some house maintenance fees were deducted. Chinese Legal Framework for Settlement of Commercial Disputes?It became obvious that the two companies could not settle their dispute by means of amicable negotiation.?Now TT intends to settle this dispute by taking court action against GG.


Reuqirement :

Discuss whether TT is currently in a position to do so and give your reasons. And apart from such discussion and analysis, what other advice would you like to give TT under the circumstances described above? Use examples that are relevant to China.

Step by Step Solution

3.41 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

Conflicts are part of doing business In business conflicts arise when one party violates the terms of business To clearly define the terms the parties involved enter into a contract which is a legal d... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Law Principles and Practices

Authors: Arnold J. Goldman, William D. Sigismond

9th edition

1133586562, 978-1285632995, 1285632990, 978-1285675367, 978-1133586562

More Books

Students also viewed these Economics questions

Question

Differentiate sin(5x+2)

Answered: 1 week ago

Question

Compute the derivative f(x)=1/ax+bx

Answered: 1 week ago

Question

What is job enlargement ?

Answered: 1 week ago

Question

What is a lobbyist in US? How did this term emerge?

Answered: 1 week ago

Question

=+c. Calculate and interpret the coefficient of determination.

Answered: 1 week ago