International Business Law

Boston University METROPOLITAN COLLEGEINTERNATIONAL BUSINESS LAWFINAL EXAMProf Martin L . SaradjianCERTIFICATIONI HEREBY plunk for THAT I HAVE COMPLETED MY OWN WORK ON THIS TAKE-HOME FINAL EXAM , KNOWING THAT IF ANY bearded 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 event that may allow a party to break a contract . This phrase is french for superior force or greater force It consists of a host of legal concepts that excuse performance of contractual duties when that performance has engender impractical or impossible . It is a common article in contracts which essentially frees one or both 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 , natural disaster (e .g , flood , quake volcano , prevents one or both parties from fulfilling their obligations under the contract2 ) ban : This is any restriction put on commerce by honor . An example is the U .S . trade 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 ) Tariff : 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 signed 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 Mercatoria governed the minutes of traveling merchants in the Middle Ages .

In the late 11th and twelfth centuries , the basic concepts and institutions of modern Western mercantile police force - lex mercatoria the law merchant ) - were formed . It was then that mercantile law in the West first came to be viewed as an integrate , developing system , a body of law . nowadays , lex mercatoria is a set of rules of conduct for b-crossing transactions developed by the supranational business community themselves and applied by arbitrators in case of trade disputes5 ) C .I .S .G : This refers to the United Nations Convention on Contracts for the International Sale of Goods . It applies to international commercial sales of goods . at present , CISG has been adopted by 35 countries and does not generally deem to services contracts , consumer sales auction sales , sales of transferable 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 legitimate rules that the contracting parties , courts , and arbitrators may rely in their business dealings6 ) earn of Credit : A...If you want to get a full essay, give it on our website: Ordercustompaper.com

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