Commercial law

Chinese Commercial Law (MLM 703) Trimester 3, 2008 ..... Assignment 1 Table Content: | | |tABLE OF cONTENT………………………………..…....……........………2 | |aBBRIVIATIONS USED IN sTUDY..……………………………….......... 3 | |eXECUTIVE

Critically analyse the role of English commercial law in international commercial dealings Introduction English law, as well as courts and arbitration courts of England, are often applied in international transactions. English law is widely used throughout the world due to its clear, settled character. The English legal system has evolved over hundreds of years and continues to develop until now; it is characterized by flexibility and ability to adapt to changing conditions. This flexibility is

with a third party. In this regardthese circumstances, the former is known as an “agent” and the entity on whose behalf the agent performs is called a “principal”. Generally, the agency relationships arises in commercial transactions, partnership and employment. The term “agency” in commercial law is represented in the Latin phrase, qui facit per alium, facit per se, i.e. the one who acts through another, acts in his or her own interests. In terms of agreeing an Agency

importance and impact of the law to any society. The ability of the law, lawyers and judges to always evolve, analyze and execute laws accurately and precisely, appealed to my impressionable mind. After this experience, there was little doubt in my career choice: I wanted to be a practicing legal professional.   I studied my Bachelors of Law at the University of Kent in the United Kingdom. During my undergraduate education, my interest gravitated towards Commercial Law. The scope of the LLM offered

comes within the statute of frauds, an English Law adopted in the United States, that requires certain contracts to be in writing. For example, a contract to sell real property, to be enforceable, must be in writing to comply with the statute. An oral contract to sell Personal Property for an amount less than that set in the statute does not fall within its limits and, therefore, is enforceable without being reduced to a writing. The Uniform Commercial Code governs the enforceability of oral contracts

UCC and COMMON LAW CONTRACTS Introduction Uniform Commercial Code (UCC) entails many underlying laws and requirements governing it in trading within a country and internationally. The international trade part has in recent years raises the question as to whether states should change the laws or not. The current laws can bring about many issues causing the downfall of many large businesses. This makes it hard to conclude on the effect of U.C.C. on international commerce coming along with many

International Commercial Risks April 1, 2013 International Commercial Risks - Business is continually growing on a global level leading to international business partnerships, agreements, and trades. During these types of business relationships disputes are common (University of Phoenix, n.d.). If a dispute occurs one party may chooses to take legal action against the other party. Making the decision to take legal action businesses must make considerations prior to proceeding. Making the

COMMERCIAL LAW COURSEWORK With reference to the standard form contract... There are certain risks involved with the modification of terms in a standard form contract (SFC). It is generally accepted that parties should not amend SFCs by choice (Ndekurgi and Rycroft, 2009). This is because there are complicated interactions between terms which, if modified, may alter the balance of risk and create legal ambiguity. The term essentially aims to achieve groundwork and efficiency

contracting parties may have (incorrectly) considered the representations to be terms. Note: depending on the circumstances of a particular problem, the party who thought the misrepresentation was a term may have a legal action in other areas of contract law, eg fraudulent misrepresentation, s. 52 TPA (misleading and deceptive conduct) Statements made during negotiations may be: • A term, • A collateral contract • A misrepresentation • A puff. Terms and Collateral Contracts: If a document

In contract law, under the Uniform Commercial Code (UCC), for businesses to complete the commercial transactions, negotiable instruments must be used. According to the law, the negotiable instruments are written or signed promises to pay a specified amount of money per the contract terms at a particular time (Miller & Hollowell, 2014). However, it must be determined if the instrument is, in fact, a negotiable instrument or nonnegotiable. According to UCC, the negotiable instrument can fall under