International Business Law

Boston University METROPOLITAN COLLEGEINTERNATIONAL BUSINESS LAWFINAL EXAMProf Martin L . SaradjianCERTIFICATIONI HEREBY surcharge for THAT I HAVE COMPLETED MY OWN WORK ON THIS TAKE-HOME FINAL EXAM , KNOWING THAT IF ANY whiskery darnel TAKES PLACE I COULD FAIL THE COURSEStudent s NameStudent s illDUE DATE : may 10 ,2007Boston UniversityMetropolitan CollegeMG721 NameIDFINAL EXAMProfessor Martin L . SaradjianMay 10 ,2007PART IIdentify the significance of the following concepts p 1 ) Force Majeure : It refers to any way out that may forgo a party to break a contract . This set phrase is french for superior force or greater force It consists of a host of legal concepts that excuse functioning of contractual duties when that performance has engender impractical or impossible . It is a coarse article in contracts which essent ially frees one or two parties from financial obligation or obligation when an extraordinary event or point beyond the control of the parties , such as war go down , riot , crime , native disaster (e .g , flood , quake volcano , prevents one or both parties from fulfilling their obligations under the contract2 ) ban : This is any restriction spew on commerce by honor . An example is the U .S . hand embargo of Cuba , which has been in place since 1962 The embargo for funs trade with Cuba in a bid to sanction Fidel Castro s dictatorial regime3 ) obligation : A tariff (or job ) is a tax levied on imports and , less often , on exports as they cross the b into other countries . For example , the unite States and 22 other countries write the General Agreement on Tariffs and Trade (GATT ) in 1947 . GATT was designed to promote trade and cool off trade disputes among the industrial and agricultural nations of the world and remove protectionism4 ) Lex Mercatoria : Lex Mercator ia governed the minutes of traveling mercha! nts in the Middle Ages .

In the late 11th and twelfth centuries , the canonic concepts and institutions of modern Western mercantile police force - lex mercatoria the police force merchant ) - were formed . It was then that mercantile law in the West first came to be viewed as an integrate , ontogeny system , a body of law . nowadays , lex mercatoria is a set of rules of conduct for b-crossing transactions developed by the global business community themselves and applied by arbitrators in subject area of trade disputes5 ) C .I .S .G : This refers to the United Nations Convention on Contracts for the world( prenominal) Sale of Goods . It applies to international commercial sales of goods . at put forward , CISG has been adopted by 35 countries and does not generally harbor to services contracts , consumer sales auction sales , sales of movable instruments or securities , or the sale of ships , vessels , or aircraft . CISG provides important benefits to traders negotiating international sales contracts by helping parties of different countries to avoid difficulties in negotiating which country s law will govern . It provides for internationally authentic rules that the contracting parties , courts , and arbitrators may rely in their business dealings6 ) move in of Credit : A...If you want to get a full essay, reach out it on our website: BestEssayCheap.com

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