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Chapter 46

BUL3130 Chapter Notes - Chapter 46: Force Majeure, Language Barrier, Independent Agencies Of The United States Government

Business Law
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The Legal Environment of Business Chapter 46 International Business Law
46.1 The International Environment
o International law the conduct and relations between nation-states and international
organizations and their relations with persons
International law generally cannot be enforced
Iteatioal outs do’t hae the opulsoy juisditio to esole disputes
Authoity to esole if paties to the dispute aept the out’s
jurisdiction over the matter
If a sovereign nation adopts international law, must enforce as if domestic law
o International Court of Justice
International Court of Justice (ICJ) the judiciary branch of the UN
Consists of 15 Judges, all from different nations, elected for 9-year
terms by majority of UN General Assembly and UN Security Council
ICJ is limited because only nations may be parties to an action before
the court
Contentious jurisdiction only over nation-parties that both agree to
allow the ICJ to decide to cause and bound to decisions
Cannot enforce ruling if countries are displeased with an ICJ decision
and can just ignore
ICJ has an advisory jurisdiction
o Regional Trade Communities
Regional trade communities (ex. EU) promote common trade policies among
member nations
European Union
European Community (before EU) worked to remove trade barriers
among its member nations and to unify their economic policies
o Power to make rules that bound member nations and
preempted their domestic law
Promote economic and social progress by creating an area without
internal borders by establishing an economic and monetary union
Asserting its identity on the international scene by implementing a
common foreign and security policy
Strengthening the protection of the rights and interests of citizens of its
member states
Developing close cooperation on justice and home affairs
EU’s tade ith the est of the old aouts fo aout 20% of gloal
o Larger than economy of US
Britain voted to leave EU
North American Free Trade Agreement
Among US, Canada, and Mexico
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Eliminate trade barriers to the movement of goods and services across
the borders
Promote conditions of fair competition in the free trade area
Increase investment opportunities in the area
Provide adequate and effective enforcement of intellectual property
o International Treaties
Treaty is agreement between or among independent nations
Nations entered bilateral and multilateral treaties to facilitate and regulate
trade and to protect national interests
Treaties have been used as constitutions of international organizations to
establish general international law
Transfer territory, settle disputes, secure human rights, protect
UN Secretariat responsible for registering and publishing treaties and
agreement among member nations
World Trade Organization (WTO)
Only global international organization dealing with the rules of trade
among nations
At least 160 members, 95% of world trade
Facilitate the flow of trade by establishing agreements on potential
trade barriers
o Ex. Import Quotas, customs, antidumping restriction
WTO administers trade agreements act as a forum for trade
negotiations, trade disputes, monitors national trade policies, provide
technical assistance
Most-favored nation provision Must treat all signatories must treat
each other as favorably as they treat any other country
Protection accorded domestic industries should take the form of
customs tariff, rather than other more trade-inhibiting measures
United Nations Convention on the Law of the Sea (UNCLOS)
Establishes a comprehensive set of rules governing all uses of the
oceans and their resources
Ratified by at least 165 nations, governs all aspects of ocean, economic
and commercial activities, transfer of tech, environmental control, etc.
Coastal nations have sovereignty over their territorial sea up to a limit
not to exceed twelve nautical miles
Sovereign rights in a 200-nautical mile exclusive economic zone (EEZ)
with respect to natural resources and certain economic activities
Sovereign rights to the continental shelf for exploring and exploiting it
Disputes could be submitted to International Tribunal for the Law of the
Sea under UNCLOS
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