/lɛks ˈloʊsaɪ ˈkɒntrækˌtuːs/ – Latin Phrase
Definition: luật pháp của nơi ký kết hợp đồng.
A more thorough explanation: “Lex loci contractus” is a Latin term that translates to “law of the place of the contract.” In legal terms, it refers to the principle that the law governing a contract is the law of the jurisdiction where the contract was formed or entered into. This principle helps determine which legal rules and regulations apply to the interpretation and enforcement of a contract.
Example: In the case of a contract dispute, the court will consider the lex loci contractus, which refers to the law of the place where the contract was formed.