INTERNATIONAL TRADE LAW
ABOUT THE BOOK
Are you a final year law student or a Masters student? You may have decided to study the Law of International trade. This is an interesting subject which combines international business to business contracts of sale, principles of sale of goods under the Sales of Goods Act 1979 in the context of international commerce.
There are numerous types of international trade sale contracts. Two of the main types are the c.i.f (cost, insurance and freight) and the f.o.b. (free on board) contracts. The obligations on the seller and the buyer differ under each contract, for example under the c.i.f. contract the seller far more obligations than under the strict f.o.b. contract. There are other types of contract which will be referred to these include:
c.f. – cost & freight
f.a.s. – free and onside ship
ex.works – collection by buyer
ex.ship - Delivery by seller
These numerous types of international sale contracts take account of the fact the seller (exporter) and buyer (importers) are in different countries and want different things, i.e. when risk in the property will pass etc.
The first five chapters of this book deals with the substantive knowledge you need for the course. The next six chapters provide you with previous exam questions with full written answers to essays and problem questions. This is a must read for any student studying International Trade Law.
AIMS OF THE BOOK
Through this Law Book, students will be able to demonstrate the ability to:
Prove that you understand the fundamentals of Commercial Law.
Evaluate complex fictitious fact patterns critically and identify areas of Commercial Law where problems may arise.
Use everything they've learned to write a formal evaluation.
Put out an argument and a conclusion in light of opposing arguments.
Make proper use of legal jargon and other specialised terms.
Take charge of their education and display a high degree of flexibility in their employment.
The aim and purpose of this book of the law is to:
Serve as a primer on the fundamental ideas and principles underlying the Law of International Trade for those who are studying or considering studying the field of Law.
The purpose is to provide students a way to organise their thoughts on Commercial Law when taking tests on the subject.
Give them a comprehensive study guide to use in order to prepare for the written portion of their legal exams.
Help students improve their writing and analytical abilities.
Encourage the development of creative approaches to issues.
Chapter 1 - General Rules in International Sales
Chapter 2 - Bills of Lading
Chapter 3 - C.I.F. Contracts
Chapter 4 - F.O.B. Contracts
Chapter 5 - Financing International Sales Contract
Chapter 6 – Essay Question Q&A
Are CIF and FOB contracts, contracts for the sale of goods, contracts for the sale of documents or
neither? Does it matter?
Chapter 7 – Essay Question Q&A
Are the rules on the passing of risk in CIF and FOB contracts satisfactory?
Chapter 8 – Essay Question Q&A
“It is a distortion of the autonomy principle to allow a beneficiary, so long as he acts in good faith, to tender documents which purport to be what they are not and to collect payment against worthless pieces of paper” (Goode). Discuss in relation to a bank’s obligation to pay under a documentary credit.
Chapter 9 – Essay Question Q&A
The CIF rules are too complex and fragmented to provide comprehensive and clear guidance as to what is a ‘good’ document”. Critically evaluate this statement.
Chapter 10 – Problem Question Q&A
Chapter 11 – Essay Question
‘Identifying different types of FOB contracts is a useless exercise, having no legal or commercial