International Commercial Law
International Commercial Law is the body of law that governs international sale transactions. A transaction will qualify to be international if elements of more than one country are involved.
Since World War II international trade has grown extensively, seeing the increasing importance of international commercial law. It plays a vital role in world development, particularly through the integration of world markets.
Lex mercatoria refers to that part of international commercial law which is unwritten, including customary commercial law; customary rules of evidence and procedure; and general principles of commercial law.
Read more about International Commercial Law: International Commercial Contracts, Convention On The International Sale of Goods, Incoterms 2010, Contract of Carriage of Goods, Title To Sue, Who To Sue, Insurance in International Trade, Payment in International Trade, World Trade Organization (WTO), Regional Trade Blocs, International Contracts Relating To Intellectual Property (IP), International Commercial Litigation and Conflict of Laws, Conflict of Laws Rules in Relation To Private Commercial Disputes, International Trade Fraud, Harmonisation of International Commercial Law
Famous quotes containing the words commercial and/or law:
“I do seriously believe that if we can measure among the States the benefits resulting from the preservation of the Union, the rebellious States have the larger share. It destroyed an institution that was their destruction. It opened the way for a commercial life that, if they will only embrace it and face the light, means to them a development that shall rival the best attainments of the greatest of our States.”
—Benjamin Harrison (1833–1901)
“We ourselves are Jews by birth and not Gentile sinners; yet we know that a person is justified not by the works of the law but through faith in Jesus Christ. And we have come to believe in Christ Jesus, so that we might be justified by faith in Christ, and not by doing the works of the law, because no one will be justified by the works of the law.”
—Bible: New Testament, Galatians 2:15-16.