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| TITLE | Supreme Court Decision 2012Da84004 Decided March 24, 2016【Decision on Enforcement】 [full Text] |
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| Summary | |
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[1] In a case where there is a lack of an “arbitration agreement in writing” under Article 2(1)-(2) of the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, whether the case constitutes one in which the arbitration agreement is not valid, which is a ground for refusal of recognition and enforcement of the award under the latter part of Article 5(1)(a) of the Convention (affirmative) [2] Whether, under the Civil Code of the State of California of the United States, an offeror of a contract without any time limit prescribed for acceptance may waive his/her right to raise objection to the delay in acceptance (affirmative), and in such a case, whether the contract is validly formed by deeming the acceptance to have timely reached the offeror (affirmative) Whether such a legal doctrine applies likewise to determining whether there was a valid arbitration agreement between the parties (affirmative) [3] In the case where: (a) Company A, a Republic of Korea corporation, involved in a dispute over its stock purchase agreement with Company B, a California corporation, sent a written document to Party C, a former corporate principal of Company B, to the effect that it consents to submitting the case to arbitration and applied for arbitration with the American Arbitration Association (AAA); (b) a letter prepared by Party C to the effect that he accepts Company A’s proposal to submit the case to arbitration reached Company A after two years and five months from the date of delivery of the above document to Party C; and (c) Company A submitted the case to arbitration without raising any objection, resulting in an arbitration award, the case holding that there was a valid “arbitration agreement in writing” contained in the exchange of documents between Company A and Party C, under Article 2(1)-(2) of the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards |
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