The Court 's Decision On The Systems Of International Trade Essay

1486 Words Nov 11th, 2016 6 Pages
The purpose of this essay is to critically discuss the court’s decision in Owusu v Jackson (C-281/02) and determine the impact of the decision on the systems of international trade. The aim is to establish how trading partners from different jurisdictions can settle a commercial dispute that may arise in the course of trade and which county’s laws are applicable in international trade disputes. The issues involving international trade are becoming commonplace due to the effects of globalisation and the ensuing economic crisis. The handling of these cross-border commercial disputes takes different shapes depending on the forum in which litigation of the disputes is conducted. The country of jurisdiction affects the guiding principles and procedures of the applicable laws and ensuing remedies. Additionally, it influences the schedule and the cost of litigations hence it has economic and legal consequences. Furthermore, the State in which parties are domiciled, the location of witnesses, language barriers and international relations undermine effective handling of cases. As international trade gains its significance due to increasing business competitiveness the disputes among the trading partners continues to increase due to a breach of business contracts. The establishment of international trade laws focuses on harmonising international trade and setting a common mechanism for settlement of the dispute between the trading countries. The parties may, however, disagree on…

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