Legal Systems and Private International Law - Bussiness Law - Lecture Slides, Slides of Commercial Law

Download Legal Systems and Private International Law - Bussiness Law - Lecture Slides and more Slides Commercial Law in PDF only on Docsity! LEGAL SYSTEMS & PRIVATE INTERNATIONAL LAW IMBA 571 docsity.com National Legal Systems • Civil law (e.g, France, Germany, Japan) • Common law (e.g., Great Britain, US, Canada and Nigeria), • Sharia (Islamic law) S i li C i l ( Chi• oc a st or ommun st aw e.g., na, N. Korea, Cuba) • Indigenous • Hybrid docsity.com Common Law System • Rooted in the English tradition (bench, bar, attorney, Inns of Court) • Based on rules that primarily evolve with judicial decisions (stare decisis) • Judge rules on issues of law using case-based reasoning • Adversarial: judge is neutral, lawyers advocate, jury acts as factfinder docsity.com Sharia or شريعة • Legal framework within which public and private aspects of daily life are regulated for Muslim peoples • Distinction between fiqh ("understanding of d t il “ i t ti l ) d h ie a s or n erpre ve aw an s ar a (underlying principles expressed in the Qur'an and the Sunnah) • Islamic law prohibits usury and investing in businesses that are considered unlawful docsity.com Socialist Law • Written code based on socialist principles (State owns/controls means of production) – Only China, North Korea, Cuba, and Vietnam label themselves socialist • Very little commercial law and individual rights almost non-existent but this is , changing (e.g., China passed first private property law in March 2007) docsity.com Hierarchy of Chinese Legal Authority • Constitution (1982) • International Treaties • Laws & Regulations C L• ase aw • Customary Law Early Chinese Law (Fa or 法) docsity.com STRUCTURE OF THE CHINESE LAW PARTY POLMy CONSTITUTION | HONG KONG RATIFIED BASIC: Law INTERNATION AT REA TIES ADMINISTRATIVE MID ICLAl LATIONS INTERPRETATION “ c pil OM Lor tA Td ADMINISTRA PIVE RULES (By the Miinastrdien, Sours: lee Dey LGA NISRA TIVE ROLES chal .ecrn cts LOCAL LDMINISTRA TIVE RULES AUTONOMOUS ROLE LOCAL ADMINISTRA TIVE DECISIONS | iy Asta orn oid Lo) Te ene se jar all lewel! (iy Lon ; meshes actu errs ci r th war docsity.com Of Interest • Macau (Portuguese t ) & H Ksys em ong ong (common law) are t id PROC j i di tiou s e ur s c on • Constitution (amended 2004) includes protection of individual human rights and legally-obtained private property, but implementation untested docsity.com PRIVATE INTERNATIONAL LAW • The laws applying to private parties in international transactions – began with Sea Law of Rhodes in 300 BC • Not a separate body of law but web of , state laws, treaties, and conventions that affect choice of law choice of , forum, and the recognition and enforcement of judgments docsity.com Research Links • United Nations • Hague Conference on Private International Law (1955) • United Nations Commission for International Trade Law (UNCITRAL) • World Trade Organization (1995) docsity.com Research Links • UNIDROIT (International Institute for the Unification of Private Law) • International Chamber of Commerce (ICC) • American Society of International Law docsity.com US Trade Laws • US customs and tariff laws are enacted by Congress and implemented and enforced by the US Customs Service – Agency functions: assess and collect tariff revenue and enforce customs laws , w/in US, Virgin Islands, and Puerto Rico docsity.com Entry Process • Required documents for goods – entry manifest or merchandise release form – US Customs Entry Summary form – proof of right to make entry (bill of lading, air waybill, carrier’s receipt) – commercial or pro forma invoice – packing slips – other documents required by regulations (e.g., quota visa, certificate of origin) docsity.com Details • Commercial invoice required for shipments > $500 intended for sale or commercial use in US; must provide all pertinent info in English; must be signed by seller • Entry Summary Form used to determine amount of duties owed and compliance with law, and to gather import stats docsity.com