The General Definitions:
Generally speaking, jurisdiction means an adjudicator (usually the judicial branch of a state, i.e., the court) has the power to hear a case over two disputing parties, whereas the choice of law means the body of law the adjudicator should refer to when resolving a dispute. For example, in drafting a transactional agreement, both parties may mutually agree that the jurisdiction is the court of Kenedy to solve any dispute arising from the agreement, under the law of Emily Republic. Such clauses are referred to as “legal jurisdiction” and “choice of law”.
Whether Legal Jurisdiction and Choice of Law Clauses Will Be Honored by a Court:
It depends. It is worth noting that although many courts defer to the contracting parties to their preferences, the courts have broad discretion, within their legal restrictions, in determining whether they should hear a case or what law should govern the dispute. Thus, it is always recommended that you seek a licensed counsel’s advice in your preferred jurisdiction before you engage in a BitCheck Contract.
If the court refuses to honor these clauses, it may refuse to hear and dismiss the case for lack of jurisdiction. Alternatively, the court may hear a case based on its procedural rules under the law of the country where the court sits, as opposed to the choice of laws that both parties originally agreed on.
On the other hand, even if a specific jurisdiction is not stipulated by both parties in the BitCheck Contract, a court of competent jurisdiction may hear the case where the transaction occurred or where the parties are located.
Because BitCheck Contract is a documentation tool, you agree to take full responsibility for the accuracy and completeness of your BitCheck Contract. XREX does not verify or endorse the BitCheck Contract you created or signed, nor does it offer legal advice. Because whether your BitCheck Contract is legally binding on both parties depends on a variety of factors, we highly recommend that you seek legal advice from your counsel before signing any BitCheck Contract.
Every BitCheck Contract contains personal information automatically retrieved from our KYC database. Therefore, if you decide to create the BitCheck Contract for your BitCheck transaction, you and your BitCheck receiver must consent to: (i) the right for XREX to share your information with the other party, AND (ii) the permission for the other BitCheck User to receive your information. BitCheck Contract Users are obligated to keep personal information in confidence unless they explicitly agree otherwise.
You should keep your information up to date when using all of XREX’s services and products, including BitCheck Contract. To streamline your BitCheck experience, you consent to share your personal information with the BitCheck receiver or the BitCheck sender for the current and subsequent BitCheck Contract, unless you inform XREX otherwise.