B LAW403 Chapter Notes - Chapter 1: Rescission, Specific Performance
15 Mar 2016
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Document Summary
Goode commercial law = that branch of law which is concerned with rights and duties arising from the supply of goods and services in the way of trade. Sealy and hooley commercial law = the law of commerce. This is done through: freedom of contract free to make any contract that the parties will abide by, sanctity of contract the courts will uphold these contracts. Efficient dispute resolution the commercial court was created to handle disputes in a quick and inexpensive way. Codification the process in which the law is collected and restated in statute. Advantages of harmonized international trade: facilitate international trade more smoothly, fills the gap where domestic laws may not exist, provide neutral law that can resolve disputes over conflicting laws. 4: can be a force for reforming domestic laws, translated into multiple languages, so more accessible.
