International Business Law
NEGOCIA

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The creation of International
Contracts
_ A complex process.
_ Different language.
_ Different social values.
_ Different legal systems.
_ Different Governments.
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Aspects of International
Commercial Transactions
_ Balance of Power.
_ The party who drafts the contract.
_ The party familiar with written contracts.
_ Enforcement of one sided contracts.
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Aspects of International
Commercial Transactions
_ Cross-border rights and obligations.
_ International Laws.
_ Cross-cultural expectations.
_ Enforcement.
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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 rules from specific cases. _ Civil Law starts with abstract rules, which judges must then apply to the various cases before them.
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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.
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Common law
_ In common law legal systems, 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.
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Common law
_ When there is no authoritative statement of the law, common law judges have the authority and duty to "make" law by creating precedent. _ The body of precedent is called "common law" and it binds future decisions
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Common Law
_ Common law legal systems are in widespread use. _ 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.

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Works on the common law
_ The definitive historical treatise on the common law is Commentaries on the