/ˈæplɪkəbl lɔː/ – Phrase
Definition: Luật áp dụng
A more thorough explanation: “Applicable law” refers to the set of laws and regulations that are relevant and enforceable in a particular situation or jurisdiction. It is the body of law that is considered to be applicable and binding on the parties involved in a legal matter, such as a contract or dispute. The applicable law determines the rights, obligations, and liabilities of the parties and governs how the legal issues are to be resolved.
Example: The parties agree that this contract shall be governed by the applicable law of the State of New York.