International Business Transactions

International Business Transactions

Select any one topic for the essay.

Topic One: the challenge(s) brought by trade in services and digital products to International Business Law and your suggested solution(s) or approach(es) to these challenges.

The traditional law relating to international business regulates goods. In recent years, however, the fast development of international business in services and in digital products has significantly challenged the content and application of traditional international business law. For example, in United States v. Eurodif S.A. (page 568 of the textbook), the US Supreme Court has to consider whether contracts for enriched uranium are for the sale of goods or services. Similarly, is the issue of whether downloading Harry Potter e-books online is trade in goods, services or something else. Do you think CISG can deal with
the ambiguous watershed among traditional goods, services and digital products? If yes, why? If not, what is your solution?

Topic Two: A Critical Assessment of International Business Law Harmonization Efforts

Significant efforts have been made to harmonize international business law. In terms of content, CISG helps harmonize conflicts between civil law and common law in contracts for international sale of goods. ICC publishes INCOTERMS® and UCP to facilitate international business transactions. In terms of instruments, conventions, model laws, and trade customs are all used to achieve harmonization. For example, the 1958 New York Convention ensures recognition and enforcement of non-domestic arbitral awards in its member states. PICC is an influential model law. Rule-making bodies, merchants/businesses, states, non- governmental organizations, governmental organizations all make efforts to harmonize international business law. Do you think these efforts are successful? What is your definition of success? What might be further improvements?

Topic Three: Bottom-up or Top-down Legislation in International Business Law

Bottom-up and Top-down are two different legislation approaches. The former is industry- driven: merchants/businesses design their own rules and states/international organizations make these rules into laws. The latter is legislature-driven: states/international organizations enact laws and merchants/businesses comply with these laws. Which approach is dominant in international business law? Why? Any pros and cons? How might this dichotomy be better managed?


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