...1. State X has accepted the jurisdiction of the International Court of Justice(ICJ) in a unilateral declaration pursuant to Article 36(2) of the ICJ’s Statute. The declaration, however, contains the following provision: “This declaration shall not apply to disputes with regard to matters which are essentially within the domestic jurisdiction of State X as determined by State X.”(a) Is this provision valid?(b) In a suit between State X and State Y, may State Y invoke this provision as to matters it considers within its own domestic jurisdiction? Explain. 2. State A sues State B in the International Court of Justice. The ICJ hands down a judgment that is adverse to State B. State B refuses to comply with the judgment. What can State A do to get State B to comply? 3. State C and State D are both signatories of the Washington Convention that created the International Center for the Settlement of Investment Disputes (ICSID). Both have notified ICSID that they consider all types of investment disputes as arbitrable. Cee Co. is a multinational firm incorporated in State C. State D asked Cee Co. to set up a subsidiary in its territory and promised Cee Co. that it would give it a tax holiday (i.e., not charge it any local taxes)for a period of 20 years. Cee Co. agreed, but it required State D to sign an ICSID arbitration agreement. The government in State D has changed, and the new government has cancelled all tax holidays granted to foreign firms, including Cee Co. In...
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...American InterContinental University International Business Law 11/28/11 A valid contract is an agreement signed by both parties. Contract must meet the requirements of the state law. Contracts are used when doing business to sell, transfer property, services, and other rights. Sales contracts are for selling automobiles and goods as such, while employees are based on service contracts. The law of contracts prohibits the enforcement of contracts which are too good to be true. Business contract laws serves to prevent outlandish claims from possibly being enforced. This is known as the law of contracts known as the Objective Theory of Contracts, The Objective Theory prevents interpretations of any law of a contract from enforcing ridiculous outrageous claims that are in advertisements from an offer of a contract. The most famous of such was the 11995 Pepsi commercial which offered a Harrier jet as an award for pepsi points. The ad stated that the winner would receive a jet for 7 million points. The overall method was to drink the pepsi brand and redeem points from the bottle cap. The company also allowed points to be purchased for ten cents individually. Although The normal cost of a Harrier jet is $23 million dollars, John Leonard thought he saw a brilliant opportunity. This man borrowed money from family and friends and attempted to retrieve the...
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...International Business Law Incoterms 2000 (International Rules for the Interpretation of Trade Terms) supports business groups including manufacturing, shipping and banking industries worldwide. Inconterms include thirteen trade terms classified into four groups (E,F,C and D) plus their variations. The terms are grouped in Exibit 5.5 which arranges the terms with the minimum responsibility of the seller and maximum of the buyer appearing at the top and oppose to that minimum responsibility of the buyer and maximum of the seller appear at the bottom. E Terms place the lowest amount of responsibility on the seller. The seller needs to make goods available at its factory and present the buyer with an invoice for payment. The buyer must arrange all transportation and bear all risks and expenses of the journey for payment and also have to clear the goods for export by obtaining export licenses from the U.S. government. F Terms are shipment contracts, under these terms seller is required to deliver the goods to the designated point of departure ‘‘free’’ of expenses or risk to the buyer. The risk of loss passes from seller to buyer, buyer arranges the transportation and pays all freight costs. F terms are also used when the buyer has contracted for a complete shipload of materials or commodities and thus had reason to assume the responsibility for arranging carriage. These terms can also be used because the buyer feels that it can obtain better freight rates than the seller...
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...who are set to apply the law in the case before them. By and by, there is an issue of if judges do make law. To put it specially, are judges simply law discoverers or are they truly legislators. It is a reality to the legitimate organization that the essential part of judges is to apply the existing law into the case he is choosing. In this way, judges requirement to find any previous law that they wish to apply and by ethicalness of that gesture, judges are law discoverers in place of officials. They need to find the law and not to authorize the law. This is because of the way that by the convention of detachment of forces, legal ought not meddle with the part of the lawmaking body. Thusly, judges should not meddle with the Parliament, which is the legislator of the nation. In any case, it is additionally a reality that as the lawful framework advances, so does the part of judges. Rather than adhering to their employment as law discoverers and the feeder of equity, they now leave their lawful engraving on the legitimate framework. What is implied by legitimate engraving is that they leave a legacy, which is another guideline of law, improved by them when they settle on a case. As a normal law nation, this legacy will then be connected by numerous others through the convention of legal point of reference and in a roundabout way, to some degree, judges do make law. This judges-made law fundamentally determined from the way that Malaysia is a normal law nation and as a majority...
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...the country use? As you know, it exists 3 main different legal systems around the world, which are the Civil law, the Common law and the Islamic law. To understand more about those 3 legal systems, we will explain the main differences and the countries where those legal systems are used by a classification. The civil law: is used Mainly by the Asian countries, European countries, Central and South American’ countries with many exceptions like India in Asia, which are not using the civil law, or also Saudi Arabia. The civil laws are based on statutory law. Judges take decisions and each law is written in a book. The decisions must be taken in relationships with this book. The common law: is based on decisions taken by the previous court. In France, judges to take decisions when the situation or the case is not very explicit sometimes use the common law. This type of decision is called “ jurisprudence” in France. This legal system is mainly used by North American countries (United States and Canada), Australia, United Kingdom, and also India and South Africa. The Islamic law: is completely different with the common law and the civil law. Everything is based on the holy Quran and the religion. Islam drives the country as well as the legal system or decisions making. For instance, in Saudi Arabia, women are not allowed for doing business. Islamic law is mainly used by Islamic countries like Middle East countries (Saudi Arabia, Syria, Qatar, Oman, and so on.), or...
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...the English and Turkish version contained clauses, which, contradict each other. The Turkish provides that the final jurisdiction of any disputes in the case of the purchaser submitting a claim lies within Houston courts and supplier submitting a claim lies with Ankara courts. The English contract says that all decisions shall be settled in Houston and be submitted to the US Foreign corrupt practices act- places limitations on US business people prohibited from making illegal payments to foreign officials under the Foreign corrupt practices act Disaster at Bhopal case, p. 42, this case talks about union carbide it lacked control over the safety and operations on the indian plant and they claimed no responsibility because 49 percent was owned by intian government and indian government regulations says that they absolve moral responsibility for any accidents Doe v uncoal corporation p.65 U.S. v Liebo, Alien Tort Claims, The alien tort claims is a US section that says the us cours have jurisdiction by an alien only for a tort in violation of the law of nations or a treaty of the US on doe v. Uncoal in order to build a pipeline, the company cooperated with the local military to get slavers to work on the project.// this company cant take the money out of the company for 10...
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...International Commercial Law and International Business Transactions Bristan Keller BUS 378 International Business Law Ashford University Instructor Jumper May 5, 2014 International Commercial Law and International Business Transactions In recent years, various conflicts of law have been identified regarding commercial law and international business transactions. In most cases, there are procedures to follow when a conflict of law comes into play. In others, much is open to interpretation and can be argued in favor of all parties. Normally if this happens, mediation is sought after and all parties compromise upon agreeable terms. Though there are various issues, international commercial law affects international business transactions and strategies through combining common law, international policies, and international organizations. In 2001 the Brussels Convention of 1968 was replaced with the Brussels I Regulation. This has been the topic of many debates as it governs cross-border disputes in civil matter and commercial matters in the European Union (EU). The Brussels I Regulation establishes rules regarding international jurisdictions of courts in addition to enforcing foreign judgments. The regulation was revised in 2007 and publicized in the Heidelberg Report. “It became apparent that the question of possible inclusion of arbitration in the scope of the Regulation would be a controversial question during the revision process.” (Hauberg, 2014) Theoretically...
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...Unit 12 Assignment 1 P1 - Explain the international business environment in which a selected business operates. The business that I have chosen to produce a report on how they could expend their business internationally is my own business, Impossible Project. Impossible Project is a fashion brand based in the UK. We design and produce our own brand of high-end designer clothing and are just selling in the UK at the moment. It is a relatively small business at the moment, however we have the capacity in terms of finance and scale to start looking at trading internationally. The country Impossible Project has targeted to start of their international journey is China. I have chosen to use China for a variety of reasons; one being it is a BRIC country. “BRIC is an acronym for the economies of Brazil, Russia, India and China combined. The general consensus is that the term was first prominently used in a Goldman Sachs report from 2003, which speculated that by 2050 these four economies would be wealthier than most of the current major economic powers.” - http://www.investopedia.com/terms/b/bric.asp Political * Being a communist country means Chinese consumers feel forced into supporting Chinese brands as a pose to UK brands. | Economical * According to the latest government figures, growth picked up to 7.9% in the final three months of 2012, from 7.4% in the previous quarter * China is a BRIC country and will soon be one of the leading economic powers | ...
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...Management COURSE OUTLINE ATW 395/3 – International Business Lecturer: Dr.Shankar Chelliah (DBA) Day/Time/Venue: Monday/9.00-10.50am/DK S email: shankarchelliah1@gmail.com Tel: 04 653 3426/012-4618731 Office: Level 2, Room 216, School of Management COURSE SYNOPSIS The course aims to introduce the core knowledge of international business as a core subject in the bachelor program. The students will be exposed to globalization, international business theories, government intervention in international business, emerging market, foreign market entry strategies and the existence of regional economic integration that affect international business. COURSE OBJECTIVES The objectives of the course are: 1. To enable students to understand the impact of globalisation and the key issues facing international businesses 2. To explain the environment in international business such as politics and law, emerging market and the regional economic integration 3. To make students appreciate the existence and use of fundamental international business theories and its evolution 4. To enable students to understand the various entry modes available to capture international market LEARNING OUTCOMES At the end of the course, students will be able to: 1. Acquire the pre-requisite knowledge of venturing a business at international level and describe the key concepts that driving globalization 2. Comprehend the environment of international business where the firm operates, and the challenges...
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...INTERNATIONAL HRM The emphasis throughout this book has been on HRM as it is practice in organizations in the United States. But many of these firms also engage in international trade. A large percentage carry on their international business with only limited facilities and representation in foreign countries. Others, particularly Fortune 500 corporations, have extensive facilities, and personnel in various countries of the world. Managing these resources effectively, and integrating their activities to achieve global advantage, is a challenge to the leadership of these companies. We are quickly moving toward a global economy. While estimates vary widely, approximately 70 to 85 percent of the U.S. economy today is affected by international competition. Recent popular books have suggested that many U.S. companies need to reassess their approach to doing business overseas, particularly in the area of managing human resources. To a large degree, the challenge of managing across borders boils down to the philosophies and systems we use for managing people. In this chapter we will observe that much of what is discussed throughout this text can be applied to foreign operations, provided one is sensitive to the requirements of a particular international setting. The first part of this chapter presents a brief introduction to international business firms. In many important respects, the way a company organizes its international operations influences the type of managerial...
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...ENTRY USED BY INTERNATIONAL FIRMS TO ENTER INTO NEW MARKETS. TERMPAPER SUBMITTED IN PARTIAL FULLFILMENT OF THE REQUIREMENTS OF THE COURSE GLOBAL STRATEGIC MANAGEMENT, DEPARTMENT OF BUSINESS ADMINISTRATION, AND UNIVERSITY OF NAIROBI. DATE17TH MARCH 2012 Modes of entry used by international firms to enter into new markets. Introduction A mode of entry into an international market is the channel which an organization employs to gain entry to a new international market. International firms use several entry modes to expand their businesses globally, and to enter into new markets, there are some basic decisions that the firm must takes before foreign expansion like: first they determine which markets to enter, when to enter those markets, and on what scale. The decision on which foreign markets to enteris based on the nation’s long run profit potential.-The international firm looks in detail at economic and political factors which influence foreign markets.-Long run benefits of doing business in a country depends on following factors:- Size of market (in terms of demographics)- The present wealth of consumer markets (purchasing power)- Nature of competition. By considering such factors firm can rank countries in terms of their attractiveness andlong-run profit. The time of entry is an important factor to be considered. Entry is early when an international business enters a foreign market before other foreign firms and late when it enters after other international businesses. The...
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...International Legal and Ethical Issues LAW/421 December 18,2012 International Legal and Ethical Issues Our society is involved in a global economy that deals with many countries, cultures, business ethics, monetary differences, and government policies. International transactions are made daily through legal channels that are set up to provide a smooth transition between entities. Provisions of legal guidelines assist in providing the parties parameters of acceptable and unacceptable behavior and consequences in respect to legal disputes of transactions. International transactions may include joint ventures, contract negotiations, employee wage compensation, enforcement of corporate contracts, merger and acquisitions, complex litigation, taxes, securities, and many more corporate decisions. The complexity of International law is best served with counsel that is knowledgeable on international affairs, and government policies. Bilingual counsel in several languages is a great asset to the business team as this provides translation effectiveness for a fairer representation in legal matters. International law is a very different forum of law due to the fact it does not have a governing body or set of laws to follow. International law is negotiated between different countries and the policies and laws of each country to meet a satisfactory line of agreement between the two entities. International law encompasses a collection of agreements, treaties, charters, and protocols...
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...BUSI 3704 A: The Environment of International Business Topic Review What does Population Ageing mean for International Business? December 2014 What does Population Ageing mean for International Business? (see also lecture notes on this topic) (1) Manifestations of Global Population Ageing (2) What is population ageing? (3) What are the patterns of population ageing across the world? (4) What countries are specifically affected by population ageing? (5) How do societies experiencing population ageing compare with those not experiencing the phenomenon? (2) Dynamics of Population ageing (a) What are the key factors giving rise to population ageing? (b) Who are the key actors in international business and public policy processes with regard to population ageing? (c) How do these key actors interact with each other? (d) What measures have been taken to mitigate against population ageing per se? (e) What measures have taken to alleviate the impacts of population ageing? (3) Impacts of Population Ageing (a) What are the short-, medium- and long-term impacts of population ageing on individuals? (b) What are the short-, medium- and long-term (economic, political, legal, social, cultural, technological, environmental, etc.) impacts of population ageing on societies/countries? (c) What are the short-, medium- and long-term impacts of population ageing on the international business environment? (d) What are the short-...
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...Addressing International Legal and Ethical Issues Summary Donna Bass LAW/421 January 18, 2016 Andrew McAdams Addressing International Legal and Ethical Issues Summary When operating a business internationally, there are legal and ethical issues that must be taken into account. The simulation shows that to be successful; a company must understand the issues involved in legal disputes, the practical considerations of taking legal action, what factors can work against the company, and what to do when customs and laws conflict. The issues that can arise when trying to resolve legal disputes in an international transaction can be cultural, ethical, political, and differences in power structures. Before taking legal action, arbitration should be considered as it is less expensive and the outcome would likely be more beneficial that dealing with a foreign court system (University of Phoenix, n.d.). Before taking legal action against a foreign business partner, there are practical considerations to take into account. The cost of legal fees and the chance of winning a court battle against this partner in a court of their country should be considered. Another is the damage that a lawsuit could have on the company's reputation. This action could hurt their chances of obtaining future international partners. Factors that could work against the granting of the sublicensing agreements by CadMex include the fact that the Canadian government and legislators would work to prevent the...
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...* International law * The new millennium * International vs. national * Codification * Natural law * Sovereignty * International conflict Sources of international law * Judicial decisions and the teachings of the most qualified publicists in the various nations * International conventions * International customs as evidence of a general practice accepted as law * General principles recognized by civilized nations International treaties and conventions Treaties | Conventions | Considered more serious in scope and function than conventions (for example, peace treaties and border treaties) | Sponsored by an international organization | Must be ratified by the states involved | Negotiated issues are often included in the title | International customs General practices are accepted as law: * Majority of world states recognize the authority of international customs * Must provide evidence of general practice * Accepted as law even if they are not codified (if practiced consistently over time by a majority of world states and if the custom is based in universal morality) General principles of law * What general principles are recognized by all legal systems? * Natural justice * Due process Subsidiary and other sources of international law * Subsidiary Sources * Judicial decisions * Juristic writings * Other Sources * Arbitration * Acts of international...
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