...ASSIGNMENT ON LEGAL ASPECTS OF INTERNATIONAL CONTRACT SUBMITTED TO SUBMITTED BY PROF. A K PANDEY PRABHAT ANAND(2K12B72) INTRODUCTION INTERNATIONAL CONTRACT: The international contract is a contract that has a foreign element, that is to say that the contract is in contact with one or more order (s) legal (s) abroad (s). Specifically, the foreign element may be resident abroad, a party to the contract, nationality, place of contract conclusion, and many other possibilities. The commercial contract is a contract for a commercial transaction or a contract made by a trader for the purposes of his trade. Therefore an international commercial contract is the addition of foreign elements in a commercial contractual relationship. Example is a contract between a French commercial agent to an American entrepreneur. Or it may be a contract between a French company and a provider of electronics in China. The formation of a contract Main points that need to be addressed: • Agreement: who decides that an argreement has been reached (objective/ subjective approach) • Offer and acceptance: offer of invitation, display of goods, advertisements etc leading to acceptance • Certainty and agreement mistakes • Consideration and form • Intention to create legal relations: domestic...
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...made a decision in the matter of Chicago Prime Packers, Inc. v. Northam Food Trading Co., et al [1] under the United Nations Convention on Contracts for the International Sale of Goods (hereinafter "CISG"). Notably, the decision references sources available from the Internet and cites to more foreign jurisprudence than any prior American case decided under the CISG. The CISG first entered into force in 1988 between the United States and ten other nations. Today, the CISG is the law in sixty-three nations (including the U.S.). The CISG, also known as the Vienna Convention, facilitates foreign trade of goods through a unified approach. It applies to contracts for the sale of goods between parties whose places of business are in different Contracting States. It automatically governs all international trade transactions within the scope of the CISG, unless the parties indicate an alternative applicable law. The CISG is generally consistent with the Uniform Commercial Code, which commonly governs contract disputes in the United States. However, the Convention ultimately represents a series of compromises between the concepts of common law and civil law. II. FACTS OF THE CASE In the case of Chicago Prime Packers, Inc. v. Northam Food Trading Co., et al, Chicago Prime Packers, Inc. ("Chicago Prime") brought a two count amended complaint for breach of contract against Northam Food Trading Co. ("Northam") and Nationwide Foods, Inc. d/b/a Brookfield Farms ("Brookfield")....
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...Chapter 07 The International Legal Environment: Playing by the Rules True / False Questions 1. | The form of law found in the United States and England is classified as civil or code law. True False | 2. | The form of law found in Germany, France, and Japan is called civil or code law. True False | 3. | Common law is based on an all-inclusive system of written rules of law. True False | 4. | Under code law, the legal system is generally divided into three separate codes: commercial, civil, and criminal. True False | 5. | Islamic law prescribes specific patterns of social and economic behavior for all individuals. True False | 6. | Code law prohibits the receipt and payment of interest on loans. True False | 7. | In Marxist–socialist societies, law is subordinate to prevailing economic conditions. True False | 8. | The World Court can settle disputes between a company and a government. True False | 9. | When dealing with foreign countries, a marketer should refer to “international commercial law” for guidance. True False | 10. | Disputes relating to commercial transactions must be settled in courts and cannot be settled informally. True False | 11. | The statements made by the parties during conciliation may be used as evidence in the subsequent litigation. True False | 12. | If conciliation is not used to settle a difference...
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...Contract Law LAW OF CONTRACT Name: Institution: A contract can be simply defined as an agreement made by parties that is legally binding by its nature. It can also be defined as legally binding set of promises or promises (Lawrence & Elizabeth, 2007). A breach of any aspects of the agreement or a promise that constitutes a contract will lead to a subsequent remedy from the party that has been accused of the breach. The law of contract as shall be later discussed has provided for such remedies. The obligation to perform the duties that the law recognizes the contractual document or agreement specified. This defining characteristic of the contract is broadly known as enforceability. A contract is thus an agreement that is deemed enforceable. However, it is worthy to point out that while it is generally acceptable that all contracts are agreements, the reverse is not true. Not all agreements constitute a contract. The law of contract may classify contracts as follows: specialty or written contracts, contracts that are evidenced in writing, contracts that are under a seal and simple contracts. Specialty contracts are contracts, which the law specifies that they must be written. A formal structured document embodies a specialty or written contract. Examples of contracts that the law classifies as specialty contracts include insurance contracts like marine insurance, lease and hire purchase agreements and the contracts that will put in place proceedings that are...
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...that a commercial contract is an agreement between two or more wills that creates or transfers rights and obligations of a commercial nature, an agreement of 2 or more wills on the production or transfer of rights and obligations, requiring that these wills have an outward manifestation with expressed or implied consent. Their legal nature is based on the presence of a dealer on any of the parties, due to its purpose being the industry, commerce or for the commercial mater of the object to which it refers. Article number 1794 (of the Civil Code for the Federal District) requires consent and an object in order for the contract to exist. Under articles number 1825 and 1826 the object must exist in nature, be determined or determinable and be in commerce (future objects may be subject of contracts as well). Usage and custom is defined as the result from the practice of traders so that they can become considered true law. Their uniform and continuous practice, make rules to be observed as existing law, but they cannot repeal mercantile laws themselves and be contrary to the principles of public policy. The practice is considered a source of DM autonomous and does not need the recognition of the legislator or judge, and changes to the wording of the new social needs. (Cco. Arts. 280 y 1132.) The uses are autonomous and independent provisions. They are classified into conventional (allow us to know the will of the parties in business relationships or contracts) and normative (imply...
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...Unit One :Introduction of International Trade Law Outline Definition of ITL The Scope of ITL （调整范围） History of ITL Comparison of ITL and In. Business Law Sources of ITL( 渊源） Question How to understand the word “international law” here? What is International Law? “A rule… that has been accepted as such by the international community.” Includes :Customary international law. International treaties and agreements. General principles common to major legal systems. Public vs. Private International Law Public International Law. – Involves relationships between countries and applies “norms regarded as binding on all members of the international community” Private International Law. – Is described as conflict of laws or “domain of rights, duties, and disputes between and among persons from different places. Part I Definition 国际贸易法：调整跨越国界的货物贸易、技术贸易和服务贸易关系以及这些贸易关系有关的其他关系的法律规范和规则的总和。 (a) The body of norms and rules – Private law: governs transnational Relationships of Private Persons ( International transaction Law) e.g. the law of international sales, trade finance, licensing agreement etc. – Public law: laws that make up the legal framework within which international business takes place. e.g. the treaties of EU, GATT agreement, NAFTA (b) the scope of ITL（调整范围） Trade in goods, Trade in service，Trade in technology,other international business field Part III History of International Trade Law • Customs and usages ...
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...Article 3 International Contracts between Common Law and Civil Law: Is Non-state Law to Be Preferred? The Difficulty of Interpreting Legal Standards Such as Good Faith Giuditta Cordero Moss∗ ∗ University of Oslo, g.c.moss@jus.uio.no Recommended Citation Giuditta Cordero Moss (2007) “International Contracts between Common Law and Civil Law: Is Non-state Law to Be Preferred? The Difficulty of Interpreting Legal Standards Such as Good Faith,” Global Jurist: Vol. 7: Iss. 1 (Advances), Article 3. Available at: http://www.bepress.com/gj/vol7/iss1/art3 Copyright c 2007 The Berkeley Electronic Press. All rights reserved. International Contracts between Common Law and Civil Law: Is Non-state Law to Be Preferred? The Difficulty of Interpreting Legal Standards Such as Good Faith∗ Giuditta Cordero Moss Abstract Most commercial contracts are nowadays written on the basis of English or American contract models, irrespective of whether the legal relationship that the contracts regulate is governed by a law belonging to a Common Law system or not. These contract models are drafted on the basis of the requirements and structure of the respective Common Law system in which they were originally meant to operate. These models may therefore be in part ineffective or parts thereof may redundant, if the governing law belongs to a Civilian system. To overcome this tension between Common and Civil Law, it is sometimes recommended to subject international contracts to non-state...
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...Studying Legal Environment of International Business INCOTERMS ------------------------------------------------- General Transport[edit] EXW – Ex Works (named place of delivery).[edit] The Seller makes the goods available at his/her premises. This term places the maximum obligation on the buyer and minimum obligations on the seller. The Ex Works term is often used when making an initial quotation for the sale of goods without any costs included. EXW means that a buyer incurs the risks for bringing the goods to their final destination. The seller does not load the goods on collecting vehicles and does not clear them for export. If the seller does load the goods, he does so at buyer's risk and cost. If parties wish seller to be responsible for the loading of the goods on departure and to bear the risk and all costs of such loading, this must be made clear by adding explicit wording to this effect in the contract of sale. The buyer arranges the pickup of the freight from the supplier's designated ship site, owns the in-transit freight, and is responsible for clearing the goods through Customs. The buyer is responsible for completing all the export documentation. Cost of goods sold transfers from the seller to the buyer. FCA - Free Carrier (named place of delivery)[edit] The seller to deliver goods to a named airport, terminal, or other place where the carrier operates. Costs for transportation and risk of loss transfer to the buyer after delivery to the carrier. When...
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...Prof. Weeramantry contends that the present hostilities are illegal under international law. It is curious that the one issue which never fails to be brought up in discussions about the US decision to attack Iraq is the question of legality and “international law”. Those who raise it contend that under “international law” the US did not have the “right” to attack Iraq because it had not satisfied the requirements of the law for doing so. The implication is that any discussions of potential danger Iraq represents to us are moot because it is illegal for us to do anything about it anyway. The fact that Iraq's military and security services have been used to ethnically cleanse whole areas of Iraq does not seem to matter either. When ethnic cleansing was at its height in Bosnia the same critics pointed out that the United States is signatory to a variety of conventions relating to human rights, national sovereignty, and cases of genocide that required it to intervene in force as a matter of “international law”. Many who favored an attack tend to ignore the whole issue of international law, or directly claim that there isn't any such thing. I like many others do not believe in it, nor do I believe in an International Criminal Court. What is law? It is the rules that a society sets and enforces on its members. What is its purpose? What should it accomplish? Ah! Therein lies the proverbial rub. There has been no consensus in history on that. Different societies in different...
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...February 11, 2011, President Hosni Mubarak’s 30-year rule came to an end under intense popular pressure as hundreds of thousands of Egyptians converged on Tahrir Square. Transition to democratic rule has been marked by advances and challenges. Egypt has seen several prime ministers and multiple cabinet changes since the revolution, and many investors have reported that the constant shuffle and interim tenure of government officials have contributed to a difficult business environment. Nonetheless, in January 2012 Egypt seated its first parliament elected in free and fair elections, and many of the members have identified increasing foreign investment as a top priority for the government. Egypt continues to honor its pre-revolution laws, international treaties, and trade agreements. It is party to 111 bilateral investment treaties and is a member of the World Trade Organization (WTO), the Common Market for Eastern and Southern Africa (COMESA), and the Greater Arab Free Trade Area (GAFTA). In most sectors, there is no legal difference between foreign and domestic investors. There are, however, special requirements...
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...INTERNATIONAL COMMERCIAL ARBITRATION 5.9 Electronic Arbitration ii Dispute Settlement NOTE The Course on Dispute Settlement in International Trade, Investment and Intellectual Property consists of forty modules. This module has been prepared by Mr. O. Cachard at the request of the United Nations Conference on Trade and Development (UNCTAD). The views and opinions expressed in this module are those of the author and not necessarily those of the United Nations, WTO, WIPO, ICSID, UNCITRAL or the Advisory Centre on WTO Law. The designations employed and the presentation of the material do not imply an expression of any opinion whatsoever on the part of the United Nations concerning the legal status of any country, territory, city or areas or of its authorities, or concerning the delimitation of its frontiers or boundaries. In quotations from the official documents and the jurisprudence of international organizations and tribunals countries are designated as reported. The United Nations holds copyright to this document. The course is also available in electronic format on the UNCTAD website (www.unctad.org). Copies may be downloaded free of charge on the understanding that they will be used for teaching or study and not for a commercial purpose. Appropriate acknowledgement of the source is requested. UNCTAD/EDM/Misc.232/Add.20 Copyright © United Nations, 2003 All rights reserved 5.9 Electronic Arbitration iii TABLE OF CONTENTS Note What you will learn 1...
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...Lessons from Alibaba.com: government’s role in electronic contracting Qin Hu Xun Wu and Clement K. Wang The authors Qin Hu is a Lawyer, Legal Counsel of China Merchants Sekou Industrial Zone Company Limited, Shenzhen, China. Xun Wu is based at the Wharton School, University of Pennsylvania, Philadelphia, Pennsylvania, USA. Clement K. Wang is Associate Director (Research), NUS Enterprise Centre, National University of Singapore, Singapore. Introduction Story of Alibaba.com The development of e-commerce has been nothing short of explosive in recent years. Many believe that its growth and impact will only become more prevailing in the future. The sale of goods by US firms over the Internet, for example, is predicted to reach $1.3 trillion by 2003. By 2004, European enterprises are expected to have online sales of $1.6 trillion[1]. Companies in China, with the largest population in the world, are also probing this new source of revenue. The China Internet Network Information Center (CNNIC) issued an Annual Report in Internet Development in January 2000 that estimates that there were 22.5 million Internet users in China at the end of 2000[2]. A recent nationwide survey showed that China had more than 1,100 consumer related e-commerce Web sites by the end of the first quarter in 2000 (People’s Daily, 2000). Four Web companies, Sina.com, Sohu.com, China.com, and Netease.com have already been listed on the NASDAQ. However, the country’s e-commerce market is still in its infancy....
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...Doing Business in Thailand: 2012 Country Commercial Guide for U.S. Companies INTERNATIONAL COPYRIGHT, U.S. & FOREIGN COMMERCIAL SERVICE AND U.S. DEPARTMENT OF STATE, 2010. ALL RIGHTS RESERVED OUTSIDE OF THE UNITED STATES. • • • • • • • • • • Chapter 1: Doing Business In Thailand Chapter 2: Political and Economic Environment Chapter 3: Selling U.S. Products and Services Chapter 4: Leading Sectors for U.S. Export and Investment Chapter 5: Trade Regulations, Customs and Standards Chapter 6: Investment Climate Chapter 7: Trade and Project Financing Chapter 8: Business Travel Chapter 9: Contacts, Market Research and Trade Events Chapter 10: Guide to Our Services 1 Return to table of contents Chapter 1: Doing Business In Thailand • • • • Market Overview Market Challenges Market Opportunities Market Entry Strategy Market Overview • Return to top Thailand is the 27th largest export destination for the United States. Two-way trade in 2011 was about $35.75 billion, with $24.8 billion in Thai exports to the U.S. and $10.9 billion in U.S. exports to Thailand. The figures represent an increase of 12.9 percent in the value of trade between the two countries. U.S. exports to Thailand increased by 21.7 percent, while US imports from Thailand increased by about 9.4 percent for the same period in 2010. In Asia, Thailand ranks as the United States’ 10th largest export destination after China, Japan, South Korea, Hong Kong, Taiwan, India, Hong Kong, Singapore and Malaysia. The Thai...
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...Chapter 1 – Assessing the Environment – Political, Economic, Legal, Technological Multiple Choice Questions 1. One indicator of globalism is that foreign direct investment has grown ____________ the world output of goods. a. as fast as b. twice as fast as more than three times as fast as (difficult, page 5) c. negatively compared to 2. The European Union (EU) has now caught up with the United States to share the position of the world’s ____________. a. largest debtor largest investor (moderate, page 5) b. largest market c. largest tariff-free market 3. The TRIAD market consists of which regions? a. Western Europe, Eastern Europe, and North America b. Western Europe, Asia, and the United States c. Western Europe, Asia, and North America (moderate, page 5) d. Europe, Southeast Asia, and the Americas 4. Which of the following countries is not one of the Four Tigers? a. South Korea b. Hong Kong c. Taiwan d. Thailand (moderate, page 6) 5. Which of the following best describes the keiretsu and chaebol? a. control b. globalize c. conglomerate (moderate, page 6) d. culturally diverse 6. Which of the following does not characterize keiretsu and chaebol? a. financially linked entities b. market the same products (moderate, page 6) c. play a significant role in their nation’s economies d. function like a trade barrier to U.S. firms ...
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...Single Convention on Narcotic Drugs From Wikipedia, the free encyclopedia | [hide]This article has multiple issues. Please help improve it or discuss these issues on the talk page. | This article lends undue weight to certain ideas, incidents, or controversies. (December 2013) | This article is outdated. (December 2013) | This article needs additional citations for verification. (October 2014) | | | Single Convention on Narcotic Drugs | Governments of opium-producing Parties are required to "purchase and take physical possession of such crops as soon as possible" after harvest to prevent diversion into the illicit market. | Signed | 30 March 1961 | Location | New York City | Effective | 8 August 1975 [1] | Condition | 40 ratifications | Parties | 185[1] | Depositary | Secretary-General of the United Nations | Languages | Chinese, English, French, Russian and Spanish | Single Convention on Narcotic Drugs at Wikisource | The Single Convention on Narcotic Drugs of 1961 is an international treaty to prohibit production and supply of specific (nominally narcotic) drugs and of drugs with similar effects except under licence for specific purposes, such as medical treatment and research. As noted below, its major effects included updating the Paris Convention of 13 July 1931 to include the vast number of synthetic opioids invented in the intervening thirty years and a mechanism for more easily including new ones. From 1931 to 1961, most of the families of synthetic...
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