In the previous Discussion Board, revenue generating activities were discussed involving countries not adhering to the United Nations platform of Convention on Contracts for the International Sales of...

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In the previous Discussion Board, revenue generating activities were discussed involving countries not adhering to the United Nations platform of Convention on Contracts for the International Sales of Goods (CISG). Regardless of whether the foreign country has accepted this platform or not, ultimately from time to time, disputes regarding business activities are going to take place. Therefore, what are the legal remedies that national and international businesses can rely on to seek some sort of restitution?Assignment Guidelines
  • Using the Internet and the library, select two countries of you choosing, and research their laws and regulations pertaining to the settlement of disputes that arise through business transactions.
  • Address the following questions:
    • What are the benefits of utilizing the negotiation process first?
    • How much power and authority could the WTO enact during this process?
    • What are the implications of choosing private law to seek ratification? Explain.
  • What are the ramifications of choosing the governing law? Explain.
  • Compile your responses into a Word document of 850–1,100 words.
    • You must reference at least 2sources from your library research
Answered Same DayDec 20, 2021

Solution

Robert answered on Dec 20 2021
3 Votes
Legal international business
Introduction
WTO and its contract act as well as other foreign trade rules and regulations are of great
importance to member countries. WTO refers to the “World Trade organization”. The WTO is
an international body dealing with rules and regulations about trade between nations. The WTO
aims at liberalizing trade. It was formed essentially in the process of the Uruguay round of
discussions and negotiations in 1986-1994. It had a major role to play in the Uruguay rounds.
The WTO forms the rules and regulations and also helps in
inging in policies which are in
favor of free trade (Wto.org, 2012).
Legal remedies for national and international businesses for restitution
The legal remedies for national and international businesses for restitution include negotiation
and judging of the case in international court of law. This helps create a higher level of trust
among the users of international trade and member countries of WTO. It also helps promote free
trade. Regional integration refers to formation of regional blocks and groups of nations which
unite for the purpose of trade and commerce. They unite by removal or minimization of trade
a
iers. WTO makes this possible (Wto.org, 2012).
Laws in UK and India for settlement of disputes that arise through business transactions
The contract law and business law formulated in UK is the basis for the laws formed in India as
well. It is popularly known as common law or the English law. It includes contract law, laws of
partnership and the agency laws. A contract refers to a communicated agreement that is accepted
y both the parties based on mutual understanding and consent as well as free will. A contract
has several elements that should be present in it for it to be legally acceptable. Proposal and...
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