Transnational Commercial Law
Instructions In order to create a legal framework which supports transnational commerce, the focus should be on a bottom-up approach to ensure that the needs of commerce are properly taken into account. Failing that, one should do more to promote the lex mercatoria. Top-down approaches do not facilitate transnational commerce. Discuss. The main text book used for the module are: Goode, Kronke, Mckendrick and Wool, Transnational Commercial Law (Oxford University Press, 2007); and Goode, Kronke, Mckendrick and Wool, Transnational Commercial Law – Primary Materials (Oxford University Press, 2007) Ready Paper Excerpt Transnational Commercial Law The laws controlling international business transactions have an extensive impact. As markets become gradually globalized, companies of all designs become global. The exchange of human resources, services, and goods across national borders ceased to be the reserve of extensive multinational businesses and intercontinental corporations. International commercial laws can influence any industrial entity with several interactions that go beyond national borders. Transnational commercial law or international commercial law refers to the body of regulations that dictate global sale transactions[1]. Transactions can only qualify to be transnational if they apply to more than one country. After World War II, international trade has developed considerably as more and more…