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LAW502 Law of International Business (8)

Abstract

This subject highlights some of the legal problems faced when conducting international business. The law of international business contracts is examined and differences in legal systems; transport and payment methods are considered. Dispute resolution mechanisms including litigation and alternatives are explored in this subject in addition to international conventions affecting business transactions.

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Continuing students should consult the SAL for current offering details prior to contacting their course coordinator: LAW502
Where differences exist between the handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject information

Duration Grading System School:
One sessionHD/FLSchool of Accounting and Finance

Enrolment restrictions

Postgraduate students only

Learning Outcomes

Upon successful completion of this subject, students should:
- be able to explain some of the problems rising in international contracts;
- be able to minimise problems by ensuring that the initial contracts are well drafted to make provision for any eventuality;
- be able to discuss different legal systems and negotiating styles;
- be able to explain how international litigation proceeds;
- be able to explain the benefits of alternative dispute resolution methods and the ability to resort to such methods where feasible for resolution of disputes;
- be able to outline and discuss international conventions affecting business transactions;
- be able to explain financing of international sale contracts;
- be able to describe the procedures for the transportation of goods by sea and by air; and
- be able to evaluate and compare entry into overseas markets, their legal structures and legal constraints.

Syllabus

The subject will cover the following topics:
- Introduction, definitions, national legal systems, municipal law, international law - public and private, sources of international law.
- The nature of international business and trade transactions. The legal factors affecting foreign trade and investment, business vehicles, and entry into overseas markets.
- International Business Contracts: Definition; functions; cultural approaches; government regulation; invitations to contract; offer and acceptance; special forms and terms of import and export contracts, CIF, FOB, bills of lading, INCOTERMS, standardisation of terms in international sales; specific clauses; and, form of the contract.
- International sale of goods: invoices and packing; performance of the contract - passing of property and risk, retention of title clauses, certificates of quality, damages and penalties; acceptance and rejection of goods, obligations of seller and buyer; conditions and warranties; innominate terms; and, Vienna Sales Convention.
- Frustration of Contract and Protective Clauses: frustration of contract; force majeure; hardship; exculpatory clauses; and, monetary clauses - exchange rates and inflation.
- The law governing the contract: Hague Convention; choice of jurisdiction (forum) clauses; choice of law clauses; contracts with foreign governments and the doctrine of sovereign immunity; and, illegality.
- Finance of exports: exchange controls; bills of exchange, promissory notes; and, commercial letters of credit.
- International transport of goods: Air, land and sea transport; scope of international rules such as Hague, Hamburg, Warsaw, OTT; container transport, bills of lading, charterparties.
- International commercial dispute resolution: international commercial litigation - jurisdiction, choice of law enforcement of foreign judgements; International commercial arbitration - nature, procedures, choice of law, international arbitration, UNCITRAL rules, IVCC court of arbitration, arbitration in different countries, enforcement of agreements and awards, ICSID; and, Alternative dispute resolution - UNCITRAL conciliation rules; and, ADR facilities in Australia.
In addition students will be exposed to selected other topics including intellectual property, insurance, product liability, counter trade.

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The information contained in the 2015 CSU Handbook was accurate at the date of publication: 01 October 2015. The University reserves the right to vary the information at any time without notice.