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
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…
olicy it is a marine insurance contract and thus it is governed by the Marine Insurance Act 1906.3 As a result, Linda has a “contract of indemnity” which essentially entitles her to expect to have or to acquire an insurable interest the property insured.4 In this regard, an insurable interest is conferred upon any individual with an interest in a marine adventure.5 In turn an individual has an interest in a marine adventure when: .
Its goal is also to establish the legal rules which are applicable to these rights and duties and the legal remedies available to ensure compliance. For this reason, it is therefore important to establish first which the subjects and persons who are to enjoy and lay claim to these rights and duties2.
The massive oil reserves of Polenskya is a clear example, and the following section highlights the facts on the ground with respect to Polenskya and issues touching the actions to be undertaken by Atlantic Oil Company-as the interested investor.
Introduction Colonel Drake can be said to be the father of the oil & gas industry as it was he who made the first successful drilling at Titusville, Pennsylvania on 27 August 1859. At the end of the First World War, petroleum was declared as necessary for the economy of a nation as blood is to the human body.
One of the oldest forms of international trading is arbitrage, the discovery of lower prices in one market and profitable resale opportunities in other environments globally. For traders of commodities which require physical transportation and delivery to other markets, international agreements will apply to the transaction as well as to import taxes and duties.
The primary objectives of international laws are to maintain harmonious, balanced and economic relationships between the states. International business laws often serve as dispute resolution for international transactions. Different types of laws has been enacted and enforced in order to ensure smooth functioning of international business.
An effective contract engages various aspects including laws along with policies, security concerns, payment related issues, notice to commence a project and communication process among others. It is worth mentioning that a valid contract involves certain significant facets such as offer and acceptance, consideration, legal terminology and intention to build a legal interrelation between parties.
It also deals with the majors taken by government to stop such practices.
Tax avoidance is the legal utilization of the tax regime to ones own advantage, in order to reduce the amount of tax that is payable by means that are within the law.
The first air routes were used to service postal services between New York City and Washington D.C. in 1918. The Air Commerce Act of 1926 was enacted to promote and develop commercial flights, as well as draw investors into the industry.
Some of these global challenges include terrorism, drug trafficking, arms trafficking and human trafficking. These aforementioned criminal activities are particularly pervasive owing to certain loopholes within international law and governance structures.
10 pages (2500 words)Coursework
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