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INTRODUCTION TO INTERNATIONAL AND COMPARATIVE LAW 1 I. Text Materials What is International Law? The term “international law” applies to any conduct outside the boundaries of states, whether of a public or a private nature. International law deals with three […]

The Rights of Individuals Under International Law International law looks upon individuals in two different ways: (1) it ignores them or (2) it treats them as its subjects. The traditional view is to ignore them. Even though individuals have no […]

Sales 10 I. Text Materials United Nations Convention on Contracts for the International Sale of Goods The 1980 United Nations Convention on Contracts for the International Sale of Goods (CISG) came into force January 1, 1988, climaxing more than 50 […]

The Passing of Risk The loss of goods through fire, theft, or other means can occur at any time: prior to delivery, during transit or inspection, or after delivery. The legal concept of passage of risk determines who is responsible […]

Transportaon 11 I. Text Materials Trade Terms Sales contracts involving transportation customarily contain abbreviated terms describing the time and place where the buyer is to take delivery. The trade terms may also define a variety of other matters, including the […]

Case 11-5: Croft & Scully Co. v. M/V Skulptor Vuchetich et al. Facts: Shippers Stevedoring (SS), a stevedoring company in the employment of Baltic Shipping, negligently dropped several containers filled with soft drinks as it was loading them on to […]

Financing 12 I. Text Materials Introduction International financing encompasses the financing of foreign trade and the underwriting of investments in foreign countries. Foreign trade financing is primarily concerned with how goods and services are paid for across international borders. Long-standing […]

Applying for a Letter of Credit – In most cases, a person who needs a letter of credit must apply to a bank with which he has an existing relationship. In all cases, a Letter of Credit Application must be […]

State Responsibility and Environmental Regulaon 2 I. Text Materials Introduction It has long been a basic principle of international law that a state that causes an injury to a foreign citizen (national) is responsible to the national’s state for the […]

Insurance Insurance is the contractual commitment by an insurer to indemnify an insured against specific contingencies and perils. Both domestically and internationally, insurance is an important business tool that can either supplement or take the place of litigation. Private Insurers […]

Dispute Selement 3 I. Text Materials Settlement of Disputes Through Diplomacy Diplomacy is the process of getting parties to a disagreement to an understanding through negotiation, mediation, or inquiry. The word “diplomacy” is formally applied only to disputes between states, […]

Immunities of States from the Jurisdiction of Municipal Courts Sovereign states are immune from the jurisdiction of foreign courts (1) when they engage in activities anywhere in the world that are unique to sovereigns and (2) when they act officially […]

The Mulnaonal Enterprise 4 I. Text Materials Introduction Any business wishing to globalize has a number of choices, ranging from relatively little presence in foreign nations (licensing intellectual property, exporting, importing, franchising) to more intense involvement in legal entities formed […]

Case 4-5: World-Wide Volkswagen v. Woodson Facts: The Robinsons bought a new Audi from Seaway Volkswagen in New York state. While traveling through the State of Oklahoma, the Audi was rear-ended, causing a fire which severely burned Mrs. Robinson and […]

Foreign Investment 5 I. Text Materials Foreign Investment Laws and Codes Foreign investment involves ownership by one person (an individual, a partnership, business organization, or government entity) of 10 percent or more of the controlling interest in an enterprise not […]

Supervision of Foreign Investment Start-Up Standards – The foreign investor whose application has been approved by the host state is usually subject to some time limit in which to start construction and/or begin operation. Most countries require investors to submit […]

Money and Banking 6 I. Text Materials The world’s money and banking system is neither coherent nor well organized. In the absence of a convenient set of laws or regulations, custom and practice regulate much of it. The system is […]

National Monetary Systems National Monetary Organizations – There are three types of organizations that operate on the national plane to implement national monetary policies. At the highest level is a political agency of the national government that sets national fiscal […]

Trade in Goods 7 I. Text Materials History of Contemporary International Trade Law International trade has grown dramatically in the past 60 years. In great measure, this is because the world’s nations have cooperated in eliminating protectionist domestic legislation and […]

Multilateral Trade Agreements In addition to GATT 1994, there are 13 other Agreements on Trade in Goods annexed to the WTO Agreement: Nine of these deal with regulatory matters; two are sectoral agreements that extend GATT to certain types of […]

WTO Import Restrictions 2. Students’ answers may vary. Some may suggest that State K may apply safeguard measures. Safeguards are emergency actions that a WTO member state may take to protect its domestic industries from serious injury from a sudden […]

Services and Labor 8 I. Text Materials Introduction The rules on services are now found principally in the General Agreement on Trade in Services and in the agreements creating certain regional economic organizations such as the EU and the North […]

II. Chapter Questions Allowable WTO Restrictions 1. Students’ answers may vary. No restrictions may be applied by member states to international GATS and NAFTA Commitments 2. Students’ answers may vary. GATS is designed to open up specific service sectors of […]

Intellectual Property 9 I. Text Materials Introduction Intellectual property is useful information or knowledge. It is divided into two principal branches: artistic property and industrial property. Artistic property encompasses artistic, literary, and musical works. These are protected, in most countries, […]

International Intellectual Property Organizations Two main international organizations take an active role in defining and protecting international intellectual property rights: the World Intellectual Property Organization (WIPO) and the Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS Council) of the […]

Sales and Distribution Arrangements – A sales or distribution arrangement limits a licensee’s freedom to organize its distribution system independently of the licensor. There are three basic approaches to the regulation of these agreements. One group of developing countries prohibits […]

1) If an offer is oral, the acceptance must be made immediately, unless the circumstances indicate otherwise. 2) The IMFs unit of account is the SDR. Answer: True 3) A representative office does not directly conduct business for the parent […]

1) The NAFTA provides MFN provisions for trade in services sectors. 2) Forum non conveniens originated from Scottish Common Law. Answer: True 3) A bill of exchange that is payable at a definite future time is known as a sight […]

1) The common law requires a note to contain the words promissory note. 2) A patent pool is an agreement to exchange licenses. Answer: False 3) The insurance policy represents the cost element of a contract. Answer: False 4) A […]

1) Inventions and trademarks are types of artistic property. 2) A charter is a document outlining the principles, functions, and organization of a juridical entity. Answer: True 3) The requirement for a person to exhaust remedies cannot be waived by […]

1) Bearer securities are transferred simply by delivery of the certificate. 2) The exhaustion-of-rights doctrine states that once a good made or sold under license is in circulation, the licensor has no further right to control its distribution. Answer: True […]

1) Common law is the legal system of England and countries that were once English colonies. 2) In an option contract, if the right is to buy a commodity, the option is known as a call. Answer: True 3) CISG […]

1) A charterparty is a contract for the hire of an entire ship for a particular voyage or a set period of time. 2) In civil law countries, a vessel is regarded as a juridical person separate and apart from […]

1) Depository receipts are non-negotiable instruments. 2) The Convention Relating to a Uniform Law on the International Sale of Goods (ULIS) supersedes the United Nations Convention on Contracts for the International Sale of Goods (CISG). Answer: False 3) An actionable […]

1) The United Nations Framework Convention on Climate Change (UNFCCC) was adopted at the Stockholm Declaration. 2) A companys service office in a host nation would be considered a branch of the company. Answer: True 3) The IMF was created […]

1) The World Intellectual Property Organization is responsible for administering the Paris and Berne Conventions. 2) Parties with secondary liability to an instrument can only be sought after the instrument has been dishonored. Answer: True 3) Any reference to some […]

1) In the marine insurance industry, a free from particular average policy provides more protection than a with average policy. 2) The WTOs dispute settlement process is governed by an agreement known as the General Agreement on Tariffs and Trade. […]

1) Tolling is a type of countertrade which involves the exchange of a monetary debt for another form of debt, such as an equity share or an obligation to deliver products, goods, or services. 2) Regulation 1612/68 limits the right […]

1) The Kennedy Round produced an agreement on anti-dumping. 2) A holding company is a branch that in turn owns other branches. Answer: False 3) The Tokyo Round led to the establishment of the World Trade Organization. Answer: False 4) […]

1) The Overseas Private Investment Corporation (OPIC) only operates as an insuring agency for companies investing in less developed countries. 2) Article 82 of the European Community Treaty does not have an exception clause. Answer: True[/cpmembership] 3) The president of […]

1) The GATS provides a provision for a departure from the principle of national treatment to ensure that direct taxes may be effectively collected on services. 2) A blocking statute makes it easier for a successful plaintiff to enforce a […]

1) A national multinational enterprise is the one in which a parent firm established in one country establishes wholly owned branches and subsidiaries in other countries. 2) The doctrine of imputability does not make the state liable for an act […]

1) A business that grants licenses to a foreign national or foreign business entity is not a multinational enterprise. 2) Multilateral Trade Agreements of the WTO Agreement are binding on all members of the WTO. Answer: True 3) The OPIC […]

1) The doctrine used by common law courts to refuse jurisdiction is called forum non conveniens. 2) The UNFCCC divides its member countries into two main groups, Annex I countries and non-Annex I countries. Answer: True 3) Adoption of the […]

1) The IMFs Articles of Agreement requires a member to buy its own currency from other members who have acquired it as the result of current transactions. 2) A partial loss is known in the marine insurance industry as a […]