GSB 695 International Business Law
This unit provides an introduction to the international legal environment which is fundamental to international commercial transactions.
The parties to cross-border transactions—whether of sale of goods or services, joint ventures or investments—must comply with applicable international and local laws. Ignorance of foreign law, inadequate documentation, or failure to consult a lawyer in the country where a contract is performed, may have profound consequences: the contract may be unenforceable, or subject to extensive delays; or it may be impossible to transfer funds from one country to another.
The emphasis throughout this unit is on a practical understanding and application of International Business Law which has derived along with trade and commerce.
The unit addresses the significance of international and domestic laws to international commerce. In this respect we identify sources of applicable law and consider their impact on the business environment. We explore the legal requirements of particular international contracts such as those for sale of goods and services; construction of contacts; exports and imports; overseas investments; and countertrade. We look at particular aspects of such transactions, such as international payments, finance, insurance and transport, and also consider the resolution of disputes under international transactions.
This unit aims to increase students’ awareness and understanding of some important aspects of international trade and commerce:
- the interaction between international law, national law and other factors in the business environment;
- the general legal requirements of international sale of goods and services, exports and imports and international investment; and
- particular legal issues arising in international trade relating to transport, payments, finance and insurance.
This unit involves a moderate amount of readings. It is always advisable that students should take a persistent approach in terms of studying this unit.