International Commercial Law

1610 Words4 Pages
bulb-icon

Recommended: Essay on international trade (introduction

INTRODUCTION
International trade and investment are commercial operations of critical importance for economic development that pose peculiar legal challenges. Cross-border transactions require the conclusion of several contracts (e.g., relating to sale of goods, transport, financing, dispute resolution), each of them with one or more foreign element; international investments demand a dedicated legal framework to ensure predictability of their various phases . The adoption of a uniform commercial text is commonly seen as the most effective method to ensure that modern, efficient and predictable legislation is enacted. Recognising such needs, the sale of goods contracts are widely recognised as the backbone of international trade and therefore attempts to make a uniform commercial text started as early as 1930. The CISG is the culmination of decades of negotiations and discussions over the harmonization of international sales law.
The CISG is a multilateral treaty that governs the rights and obligations of parties to international sales contracts. This convention was set out as one that would create uniform rules to govern contracts for the international sale of goods thus removing legal barriers in international trade. The CISG came into force over 30 years ago in 1980. The CISG has, of September 2013, been ratified by 80 states across the world. It has been widely claimed in academic literature to be one of the most successful harmonisation projects in the field of international commercial law.
The EAC is Regional organization of whose member states are Kenya, Uganda, Tanzania, Rwanda and Burundi. “The Treaty for the Establishment of the East African Community was signed in Arusha on 30 November 1999. The Treaty entered ...

... middle of paper ...

...states. Many scholars have pointed out the fact that there are some issues that the regional sales law addresses that are not addresses by the CISG. One of the authors in the book, Ferrari argues that “there is no reason ‘to believe that in those regions and countries where the CISG is in force, there can be no room for regional unification efforts.” As such from the arguments made above it would be safe to conclude that the enactment of a regional sale of goods act would not be better but that it would be possible to enact regional sales of goods act and at the same time adopt the CISG. Both instruments have their strengths and by adopting the CISG it does not mean that states cannot enact a regional sales law instrument. It would enable the member of the EAC to have the best of both worlds so to speak and would be of great benefit to the member states of the EAC.

Show More
Related

  • Pros And Cons Of Commerce Clauses

    1025 Words  | 3 Pages

    It has moved from an exclusive power of the national government to regulate the trade of good and services on an international level to include interstate activities. The nation is growing and new problems are continuing to emerge. The commerce clause has to adjust also, in order to meet the demands of the changing world and its’ needs. The federal government still has the power to regulate interstate commerce. It still remains the reason for the increased federal regulation on the economy. The national economy is growing. It is no surprise to see that areas such as agriculture, finance industry and other services have increased and been included in laws governing these areas

    Read More

  • The Australian Consumer Law and Consumer Guarantees

    1287 Words  | 3 Pages

    The Australian Consumer Law (ACL) was established to protect consumers in any legal trading activities in Australia. A set of guarantees has also been introduced for those consumers who are acquiring goods and services from Australian suppliers, importers or manufacturers. The guarantees are intended to ensure that consumers will receive the goods or services they have paid for. If they have problems with the products and services they bought, they are entitled for remedies, such as repair, replacement, and refund.

    Read More

  • Non-State Political Violence: Occurrence and Justifications

    1814 Words  | 4 Pages

    The Cotonou Agreement, Partnership Agreement Between The Members of the African, Caribbean and Pacific Group of States of The One Part, And The European Community And Its Member States, of The Other Part, Cotonou, Benin, June 2000.

    Read More

  • Australian Contract Law Should Be Codified

    1889 Words  | 4 Pages

    With commercial dealings on the rise in Australia and globally, so too are the complications. If some sort of codification is not established and built from the principals that already exist, commercial opportunities could be in jeopardy due to the uncertainty and risk of not having a clear outline or set of laws to cover contracts generally.

    Read More

  • The World Trade Organization Where It’s Been and Where’s It’s Going?

    1836 Words  | 4 Pages

    Working Group on the WTO/MAI. “A Citizen’s Guide to the World Trade Organization” (July 1999): 1-28

    Read More

  • Contemporary Widening of the European Union

    3125 Words  | 7 Pages

    Uvalic, M. (2002, July). Regional Cooperation and the Enlargement of the European Union: Lessons Learned? International Political Science Review, 23(3), 319-333.

    Read More

  • Responsibility in The Legal Environment of Business

    746 Words  | 2 Pages

    Under which theory or theories of product liability can Kolchek sue to recover for Litisha’s injuries? Could Kolchek sue Porter or Great Lakes?

    Read More

  • Customary International Law In Australia

    1669 Words  | 4 Pages

    According to Article 38 of the 1946 Statute of the International Court of Justice, the Court shall apply “international custom, as evidence of a general practice accepted as law” in its decisions (Kritsiotis 123). In other words, the International Court of Justice cites customs as a formal source of law. According to Roberto Unger, author of Law in a Modern Society, customary international law is best defined as “any recurring mode of interaction among individuals and groups, together with the more or less explicit acknowledgement of these groups and individuals that such patterns of interaction produce reciprocal expectations of conduct that out to be satisfied (Shaw 72-73). In other words, customary international laws are primarily concerned with how and why sates behave in a particular manner. Customs derive from the behavior of states (state practice) and the subconscious belief that a behavior is inherently legal (opinio juris). Evidence of state behavior is documented in the decisions of domestic courts, international courts, and international organizations. Unlike treaty law, customary laws are binding on all states. Additionally, if a treaty derives from a custom it is also binding on all states. Some of the international court cases that have been instrumental in the development of customary international law include the Nicaragua v. United States case, the Anglo-Norwegian Fisheries case, the Scotia case, the Asylum case, the Paquete Habana case, and the Lotus case.

    Read More

  • English Commercial Law: The Codification Of The English Legal System

    1354 Words  | 3 Pages

    While there are lots of authors who are argued in favour of this codification since two centuries, practitioners and business in the English community had always been afraid about this idea. To understand the context of this debate, I will, first, briefly explain what do we generally mean by the term ‘codification’. Then, I’ll take few points about the origins of English commercial law and describe its modern definition. Finally, I will outline the main arguments why I am against the proposition of a commercial

    Read More

  • Company Law

    2007 Words  | 5 Pages

    As a consequence of the separate legal entity and limited liability doctrines within the UK’s unitary based system, company law had to develop responses to the ‘agency costs’ that arose. The central response is directors’ duties; these are owed by the directors to the company and operate as a counterbalance to the vast scope of powers given to the board. The benefit of the unitary board system is reflected in the efficiency gains it brings, however the disadvantage is clear, the directors may act to further their own interests to the detriment of the company. It is evident within executive remuneration that directors are placed in a stark conflict of interest position in that they may disproportionately reward themselves. The counterbalance to this concern is S175 Companies Act 2006 (CA 2006) this acts to prevent certain conflicts arising and punishes directors who find themselves in this position. Furthermore, there are specific provisions within the CA 2006 that empower third parties such as shareholders to influence directors’ remuneration.

    Read More

  • International Trade Law Case Study

    3692 Words  | 8 Pages

    International Trade Law Case Study Introduction International trade transaction is essential for the sale of goods with the addition of an international element. In practice, the seller and buyer are in different countries where the goods must travel from the seller’s country to the buyer’s country by various means of transports. In international sale of goods, they usually transit the goods by sea because of the international transactions. Therefore, contracts for the carriage of those goods must be procured between the seller or buyer and common carrier depending on different types of sale of contracts. Moreover, in most of incidences, the agreed goods are usually insured at a reasonable amount in case of being loss or damaged during the transit.

    Read More

  • Subjects of International Law

    1121 Words  | 3 Pages

    In any kind of legal relations, subject always play an important role, and it is one of the signals to determine the relation that pertaining the adjustment of any legislation system. International law is a legislation system that is a set of thousands of documents from various sources. The research about the subjects is necessary since it helps to find out the source of law, which relation pertains the adjustment of law. The subjects of international law include sovereign states and analogous entities, intergovernmental organizations, the individuals, and multinational corporations.

    Read More

  • Summary Of The Globalization Paradox

    1436 Words  | 3 Pages

    After the failed International Trade Organization, Rodrik discusses the Bretton Woods Agreement, the transition from the General Agreement on Tariffs and T...

    Read More

  • Public International Law

    1772 Words  | 4 Pages

    Public International law International law contains of rules and principles, which preside over the relations and communication of nations with each other. International Law that is in most other countries referred to as Public International Law concerns itself only with questions of rights among more than a few nations or nations and the citizens or subjects of other nations. In dissimilarity, Private International Law deals with controversies among confidential persons, natural or juridical, arising out of situations having important association to further than one nation. In current years the line up connecting public and private international law have became more and more doubtful. Issues of private international law may also associate issues of public international law and numerous matters of private international law nave considerable meaning for the international group of people of nations. International Law consists of the basic, classic concepts of law in nationwide legal systems, status, property, responsibility, and tort. It also includes substantive law, procedure, process and remedies.  International Law is rooted in receipt by the nation states, which comprise the system. Customary law and conventional law are primary sources of international law.  Customary international law results when states trail convinced practices usually and time after time out of an intelligence of legal responsibility. Lately the customary law was codified in the Vienna Convention on the Law of Treaties. Conventional international law derives from international agreements and may obtain any appearance that the constricting parties have the same opinion upon. Agreements may be complete in admiration to any substance except for to the leve...

    Read More

  • Maritime Law

    819 Words  | 2 Pages

    "1- The name of the insured, or of some person who effects the insurance on his

    Read More

More about International Commercial Law

Open Document