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International Business Law

The creation of International
_ A complex process.
_ Different language.
_ Different social values.
_ Different legal systems.
_ Different Governments.
Aspects of International
Commercial Transactions
_ Balance of Power.
_ The party who drafts the contract.
_ The party familiar with written contracts.
_ Enforcement of one sidedcontracts.
Aspects of International
Commercial Transactions
_ Cross-border rights and obligations.
_ International Laws.
_ Cross-cultural expectations.
_ Enforcement.
Legal System
_ Civil law or Continental law or Romano-Germanic law
is the predominant system of law in the world.
_ Civil law as a legal system is often compared with
common law.
_ Common Law draws abstract rulesfrom specific
_ Civil Law starts with abstract rules, which judges
must then apply to the various cases before them.
Civil Law
_ Civil law has its roots in Roman law, Canon law.
_ The legal systems in many civil law countries
are based around one or several codes of law.
_ The most famous example is perhaps the
French Civil Code of 1804.
Common law
_ In common law legalsystems, the law is
created and/or refined by judges:
- a decision in the case currently pending
depends on decisions in previous cases and
affects the law to be applied in future cases.
Common law
_ When there is no authoritative statement of
the law, common law judges have the
authority and duty to "make" law by creating
_ The body of precedent is called "common law"
and itbinds future decisions
Common Law
_ Common law legal systems are in widespread
_ Particularly in those nations which trace their
legal heritage to Britain:
- including the United Kingdom, the United
States, most of Canada, and other former
colonies of the British Empire.

Works on the common law
_ The definitive historical treatise on the
common law is Commentaries on theLaws of England, written by Sir William
Blackstone and first published in 1765 -
Works on the common law
_ Since 1979 a facsimile edition of that
first edition has been available in four
paper-bound volumes.
_ Today it has been superseded in the
English part of the United Kingdom by
Halsbury's Laws of England that covers
both common and statutory English law.
_ New York law is often used in contracts
throughout the world.
_ (for example, in commercial contracts in
Japan, France and Germany, and from most
of the other states of the United States).
Commercial Contracts
_ The common theme in each case is that
commercial parties seek:
_ predictability
_ simplicity
- in their contractual relations, and frequently
choose the law of acommon law jurisdiction
with a well-developed body of common law in
order to achieve that result.

Common law as a foundation for
commercial economies
_ Significant contributor to the robust
commercial systems in the United Kingdom
and United States.
_ For example, many commercial contracts are
more economically efficient, and create
greater wealth, because the parties know
aheadof time that the proposed arrangement,
though perhaps close to the line, is almost
certainly legal.
Common Law
_ The term has three main connotations and several
historical meanings.
_ 1.Common law as opposed to statutory law and
regulatory law.
_ 2. Common law legal systems as opposed to civil
law legal systems.
_ 3. Law as opposed to equity.
Napoleonic code
_ The NapoleonicCode, or Code Napoléon
(originally called the Code civil des
Français) is the French civil code,
established under Napoléon I.
_ Entered into force on March 21, 1804
The Code Civil
_ The Code, with its stress on clearly written
and accessible law, was a major step in
establishing the rule of law.
_ Historians have called it "one of the few
documents which have influenced the whole...