Chapter 3: Resolving International Commercial Disputes
If a dispute arises, the terms of a K provide the basis for dispute resolution!
Most of the world views Americans as confrontational and quick to call the lawyers
ADR (Alternative dispute resolution):
Business Law Exam 2.5
-contract is effective when received according to CISG.
-place of time of deliver, extent of ones party to L, the manner of settling disputes are all
-CISG, seller not responsible if more than 2 years.
-buyer fails to take
MFN/normal trade relations in US- agreeing to accord products imported from that country the most favorable treatment or the lowest tariff rates that it gives similar
products imported from its other MFN trading partners-granted by to another country by a
INT BLAWTest 2.5
Pg 112-CISG in book11/14/12
The following have to happen to apply CISG:
1. Commercial sale of goods (no services) (merchant to merchant)
2. Its international
3. Have to have ratified the convention-UN creation; they are the home country f
Updated INTERNATIONAL BUSINESS LAW FINAL STUDY SHEET
Chapter 9: GATT
Omit Scope and Coverage p. 283, Major Principles pp.287-290.
Stress MFN, p. 291307 lib
When on country grants most favored nation trading status to another country,
it is agreeing to ac
International Business Law
Chapter 1: Introduction to International Business
The realities of the modern world make all business international.
o Example: A change in interest rates in Germany affects investment flows
Founded in 1991 after collapse of soviet Union
Smaller than TX
Ethnicity=Ukrainian and Russian
Known for rich soil and crops
Known for Chernobyl disaster
Test 2.0 Review: International Blaw
A valid K needs 6 essential elements:
3. Capacity (under 18 doesnt have legal capacity)
Voidable: At the option of the minorthe major is bound to the contract!
International Law ( from Latin term jus gentim -> the law of nations):
- The body of rules applicable to the conduct of nations in their relationships with
other nations, the conduct of nations in their relationships with individuals, and
The following have to happen to apply CISG to International Sales:
1. Commercial sale of goods (no services-the term goods is not defined in CISG) (merchant to merchant) 2. Its international (parties places of business are in diff
-valid K: 6 essential elements must be present: agreement, consideration, capacity, assent, legality, form.
Voidable: the option of the minor->major= over 18- is stuck/bound. A. Ratified: after the fact, approval. (must have capacity-minor becomes major)
Secured Transactions, Spring 2013, Professor Peter V. Marchetti
Basics of Lending
- Lender wants to be sure of repayment
Types of Loans
o Simple promise by debtor to pay generally only given to those who are
affluent/have a high credit rating