StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

International Trade Law - Essay Example

Cite this document
Summary
Basic to the exportation and importation of products from one county to another is an organised, effective and regulated method of transporting these goods. Internationally accepted laws such as the Hague Visby Rules 1968 and the Hamburg Rules 1978 govern today's international trade transactions…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER92.6% of users find it useful
International Trade Law
Read Text Preview

Extract of sample "International Trade Law"

Download file to see previous pages

The Hague Visby Rules after defining key terms such as 'carrier" (Art.1a), proceeded to define 'contract of carriage' as contract for shipment of goods "covered by a bill of lading or any similar document of title" (Art.1b). It further defined 'carriage of goods' as that period commencing "from the time when the goods are loaded on to the time they are discharged from the ship" (Art.1e). It also limits its coverage only to outgoing shipments from UK and excludes imported or ingoing goods and limits the liabilities of the common carrier.

To give muscles and teeth to the provisions of the Hague Visby Rules, the UK Carriage of Goods By Sea Act of 1971 amended in 1992 was enacted (Laryea 2002,p.56). In contrast to the Hague Visby Rules, the Hamburg Rules which was an offshoot of the 1978 UN Convention On The Carriage of Goods By Sea (Yiannopoulos 1995,p.8), widened the liabilities and responsibilities of the carrier over the shipped goods and included in its ambit all carriage of goods whether exports or imports (Gillies & Moens 1998,p.183) as well as contracts for the carriage of goods whether evidenced or not by a bill of lading (Art.2). It also exonerates Of common importance to both the Hague Visby Rules and the Hamburg Rules is the extreme importance accorded to a bill of lading.

Both emphasise that the bill of lading is the contract between the parties which is enforceable before the courts of law. It is the written acknowledgement of receipt of goods accompanied with the written stipulation that such goods shall be transported by the carrier, on behalf of the shipper, to a consignee at a designated place. A bill of lading must state the "condition of the goods,the date of receipt and or shipment, the leading marks necessary for identification of the goods, the quantity of the goods, the number of packages or pieces, or weight of the goods" (Laryea 2002,p.65). It is important because its contents are deemed as containing all that the parties have agreed and therefore, such bill of lading cannot be varied by parol evidence unless fraud, mistake or ambiguity is adduced.

Thus, the carrier may adduce evidence that in fact, the goods had already been damaged at the time of shipment and that shipper is thus guilty of fraud by misdeclaration (The Tromp,1921). It is even more important because it empowers the consignee or buyer to obtain delivery from the carrier at destination after presentation of the original bill which is transmitted ahead. (This 'shipped bill of lading' shall be discussed in the latter part of this paper). Another of its importance is that it enables the buyer to sell the goods to a third party while the goods are in transit (Gillies & Moens 1998,p.125) or to transfer

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“International Trade Law Essay Example | Topics and Well Written Essays - 3000 words”, n.d.)
International Trade Law Essay Example | Topics and Well Written Essays - 3000 words. Retrieved from https://studentshare.org/miscellaneous/1510176-international-trade-law
(International Trade Law Essay Example | Topics and Well Written Essays - 3000 Words)
International Trade Law Essay Example | Topics and Well Written Essays - 3000 Words. https://studentshare.org/miscellaneous/1510176-international-trade-law.
“International Trade Law Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.org/miscellaneous/1510176-international-trade-law.
  • Cited: 0 times

CHECK THESE SAMPLES OF International Trade Law

Various methods and attempts employed in the harmonization of international trade law

This research analyzes various methods and attempts employed in the harmonization of International Trade Law.... This research will begin with the statement that international trade is the kind of trade that takes place across nations all over the world either bilaterally or multilaterally.... As the world gets digital and globalization gains root, the prominence of international trade as an aspect of international relations demands careful attention....
9 Pages (2250 words) Coursework

National treatment standard in international investment law and international trade law

Name: Instructor: Course: Date: National Treatment Standard in International Investment Law and International Trade Law While the national treatment concept in international trade laws and international investment laws have a common origin, i.... National Treatment Standard in International Investment Law and International Trade Law While the national treatmentconcept in international trade laws and international investment laws have a common origin, i.... In making a determination on how investments from domestic and foreign sources are to be compared and contrasted, tribunals that are meant to deal with the investments have, to a degree, departed from precedents set by the national treatment principle in International Trade Law (DiMascio & Pauwelyn 71)....
3 Pages (750 words) Essay

International Trade Law and Institutions

This paper ''International Trade Law and Institutions'' tells that Critically assess and contrast the dispute resolution procedures used by the WTO with those used by the International Chamber of Commerce (ICC) in its arbitration procedures.... Considered by many to be the father of modern economics, Adam Smith put forth the original theory that the key to true economic progress and prosperity for all nations is international trade.... With the idea of free international trade already very popular, the WTO was formed not only to promote free international trade, but also t attempt to police the international marketplace to prevent violations of trade laws....
9 Pages (2250 words) Essay

International Trade: Law and Institutions

An essay "international trade: Law and Institutions" critically assess and compare and contrast the dispute resolution procedures used by the World Trade Organization (WTO) with those used by the International Chamber of Commerce (ICC) in its arbitration procedures.... Considered by many to be the father of modern economics, Adam Smith put forth the original theory that the key to true economic progress and prosperity for all nations in international trade.... With the idea of free international trade already very popular, the WTO was formed not only in an effort to promote free international trade but also to attempt to police the international marketplace to prevent violations of trade laws....
10 Pages (2500 words) Essay

The Application of the European Community State Aid Rules

Industrial policy is being perused by many governments around the world with a sole aim to ensure and to attain both investment and trade benefits which is a crucial factor today in many segments of international economy.... , France and Germany and with EC (European Communities) regarding initiatives impacting trade in giant civil airlines....
11 Pages (2750 words) Essay

MASTER IN INTERNATIONAL TRADE LAW AND ECONOMIC DEVELOPMENT

It is certainly true that involvement in international trade has the capacity to reduce poverty of many millions as evidenced by China and India.... Aid for trade emerged out of the WTO's Hong Kong Ministerial Declaration 2005 with the commitments from Ministers of G7 and G8 for the provision of aid to developing countries for building “the physical human and institutional capacity to trade” and for addressing… tment related challenges and supply side constraints”....
14 Pages (3500 words) Essay

International Trade Law in the United Kingdom

The aim of this assignment "International Trade Law in the United Kingdom" is to explain the fundamental principles of English contract law.... Under contracts for the sale of goods in International law, goods are presumed to pass pursuant to the intention of the contracting parties.... The law presumes that the parties intend that the goods will fit the description as provided for in the contract for the sale of goods....
6 Pages (1500 words) Assignment

The Federal Republic of Nigeria: the Country With Rich Natural Resources

3 Liberalization of economies and the concept of globalization in the marketplace forced the commercial undertakings/countries to integrate their activities into the international practices for expanding their business in international trade.... 4 A clear understanding of the international laws, the local laws in relation to international trade and the cultural background and values of the society is very important for successful operations.... The laws practiced in the country are English law inherited from British rule, Common law developed post independence from British rule, law....
6 Pages (1500 words) Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us