LSB 4633 Lecture Notes - Lecture 5: Moral Authority, Lex Mercatoria, International Business
4 Oct 2017
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International business law is the law that governs cross-border business transactions. International business law also governs the activities of those doing business in foreign. International business law includes both public and private law. International business law is ultimately about business countries. In this lecture, we examine the aspects of international business law. The body of ibl can be found in treaties, multilateral conventions, statutes, governmental acts, national court decisions, as well as international courts and tribunals. Merchant law was based on the customs and practices of merchants, bankers, mariners, and shipowners. Modern commercial codes employ many of these same concepts today. The most important international commercial code is the united nations convention on. Legal scholars prepared the cisg under the oversight of the united nations. Commission on international trade law have ratified the code. International organizations may publish guidelines which provide non-binding standards. These guidelines are not law but have a certain moral authority.
