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The importance of international law to international traders - Coursework Example

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The importance of international law to international traders

However, recently the line existing between private and public international law has been very unpredictable. Even though both these laws are connected, many times in certain areas of activities conflicts and contradictions can normally arise. 1 International Law includes the basic, classic concepts of law in national legal systems - status, property, obligation, and tort (or delict). It also includes substantive law, procedure, process and remedies. International Law is rooted in acceptance by the nation states which constitute the system. International law is a crucial aspect in international trading and it is mainly concerned with cross border transactions. Since international traders are highly subjected to international trade laws and policies, they work in good collaboration with legal professionals and international trade consultants. 1 Cornell University of Law School. 2010. International Law. [ONLINE] Available at: http://topics. law.cornell .edu/wex/ International _ law. [Accessed 18 February 11]. Legal theories and jurisprudential concepts in respect of international law The basic International legal system is the process of analyzing the practical workability of the international trade functions related to international policy, and the way in which the international law standards can increase the trade efficiencies .It primarily concentrates more on the usability of laws by the foreign policy makers rather than the exquisite content and exposure of it. International law, distinctively explains the way in which the international legal transactions work and the way in which the foreign organizations incorporate these law in their working system. International law policies and strategies controls trade dealings and avoids manipulation and exploitation in the international commercial activities. 2 For some thirty years international law has been isolated from the rest of the intellectual life by the necessities and distractions of the two world wars. As these early modernists told the history of their discipline , their predecessors, the classic scholars who were ideologically split in to two armies , had turned international law in to a battlefield. The real value of the international law policies is that it gives many areas for the traders and people to work on trade relations and transactions. It is a known fact that United Nations, being the promoter of peace, aim for the peace and tranquility in all the dealings occurring on global level. 3The main aim of the United Nations is the preservation of world peace. It is strongly believed that increased international trade, 2 .Pervis, N, 1991. Critical Legal Studies in Public International Law. Law Journal , 32/1, 81-89 3.J.W.T.Chan. 2007. Modern Law for Global Commerce. [ONLINE] Available at: http://www.uncitral.org/ pdf/english/congress/Chan.pdf. [Accessed 19 February 11]. Which carries with it the increasing interdependency of nations as well as greater and better interactions between the people of the world is a strong contributing factor to world peace. Thus the strong support by the United Nations to all initiatives that would remove obstacles to world trade, such as initiatives to harmonize or unify the rules of international tra ...Show more
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Topic:  The importance of international law to international traders Introduction International law is basically the rules and principles which controls and governs the trade relations within different nations around the globe. The international law can be specifically defined as the relation between individuals and states, and relation between different organizations operating on a global level…
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