International Business Relations Between Countries And...

â€Å"When law is internationalized it changes, it is denationalized, modernized and liberalized, sometimes intentionally, sometimes inadvertently† That being said I’d like to state that International Business Transactions is a field which deals with commercial contracts between two or more countries. They can be ranging from the simplest form- trade to the most complicated kind of foreign direct investment. As a layman would understand it simply means an area of law that deals with international business relations between countries having different laws, rules and regulations. So one might think, when there is a contract of sale of goods, services or goods and services how does the law apply to countries with different legal systems? What happens in case of a dispute? What court of law has jurisdiction? and which country’s law applies? This is what is dealt with in the subject of International Business transactions. What exactly is done to address this issue. Here, is where the process of Harmonization comes in. Harmonization basically means, ‘bringing together’ in a way whereby you remove the diffic ulties and inconsistencies between two things, here, being laws. Various attempts have been made at an international level to regulate and harmonise laws between the various countries of the world. But, first I’d like to give a little backdrop to the history of the harmonization process. International trade was seen to escalate after the Second World War, especially after theShow MoreRelatedInternational Laws : A Common Law System1546 Words   |  7 PagesAt the global level, international laws are of great importance and the legal systems such as common law, civil law, customary law, and theocratic law exists in different countries across the world. There are about 196 sovereign states in the United Nations Organization and each of the states follows a legal system created by them or by an agreement in the form of regional treaties and other accords. Common law: A common law system according to Samii (2011, p. 112) is based on a traditions, judgeRead MoreThe Political And Legal Aspects Of International Marketing1707 Words   |  7 Pages The Political and Legal Aspects in Relation to Domestic and International Environment of Halal Products Submitted by: Jessa Loreta Billano, 1338020 Submitted to: Dr. Syed M. Ahmed 10 August 2016 Executive Summary The advent of globalisation in the last two decades had an immense impact to the political and legal environments which are essential aspects in international marketing. As there is no existing single political and legal environment because of its complexity onRead MoreCommon Law And Civil Law835 Words   |  4 PagesAt the global level international law is of great importance and the legal systems such as common law, civil law, customary law, and theocratic law exist in different countries across the world. There are about 196 sovereign states in the United Nations Organization and each of the states follows a legal system created by them or by an agreement in the form of regional treaties and other accords. Common law: A common law system according to Samii (2011, p. 112) is based on tradition, judge madeRead MoreEnvironmental Factors Affecting Globalization1321 Words   |  6 Pagesenvironment. The factors include political and legal issues, which are the most important. Some other environmental factors that have a major effect on the marketing world are social, cultural economics, technological, and competitive. 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In order to have a grasp of the factors at play, thisRead MoreCoca Cola Environmental Factors Paper1224 Words   |  5 Pagesinfrastructure, cultural differences, social responsibilities, ethics versus legal obligations, political systems and international relations, and technology while analyzing the influence of the Foreign Corrupt Practices Act as well as local, national, and international legislation. For a successful marketing plan and business , it is important that the organization looks into how these factors could possibly affect their business globally and domestically. Coca-Cola has demonstrated that they canRead MoreRelations Between China And China1367 Words   |  6 PagesBefore establishing formal diplomatic relations with China, Singapore was already enjoying close economic and political ties with China albeit on an informal basis. Both countries elevated their relationship to a more formal level by establishing diplomatic relations on October 3 1990. Since then, the economic and trade cooperation between the two nations has expanded steadily and China has become Singapore s largest trading partner in 2014 with the bilateral trade amounting to S$121.47 billionRead MoreBusiness Ethics Of International Business : Culture, Consumers And Employees1152 Words   |  5 PagesCourse: INB385 International Business Date: October 11, 2015 Response to Ethical Challenges in International Business: Culture, Consumers and Employees Introduction General business ethics applies in the case of international business. However, international business ethics poses a particularly different difficulty- from domestic business- as a result of the scope of diversity that managers have to deal with: cultural, economic and legal, etc. Although the contents of business ethics are to anRead MoreThe Court s Decision On The Systems Of International Trade Essay1486 Words   |  6 Pagesof the decision on the systems of international trade. The aim is to establish how trading partners from different jurisdictions can settle a commercial dispute that may arise in the course of trade and which county’s laws are applicable in international trade disputes. The issues involving international trade are becoming commonplace due to the effects of globalisation and the ensuing economic crisis. The handling of these cross-border commercial disputes takes different shapes depending on theRead MoreBusiness International Between Cuban And Usa Case Study928 Words   |  4 PagesTopic: Business international between Cuba and USA Introduction To understand about Cuba before doing business in or with that country is important know geographical location, its form of government including their trade relations, the political context and its location in world geopolitics, its population, language, culture, use of technology, labor, its financial system in economic terms and of course its kind currency and exchange rate. Historically, political and economic relations between US and