The purpose of this chapter is to introduce you to the legal structures and principles that regulate international trade. The role of the law in the context of trade and business transactions, whether national or transnational, is focused upon the regulation and facilitation of supply chains (whether of goods or services). This is largely based on the law of contracts, along with some issues covered by the criminal law, other public regulation (such as fiscal constraints, health and safety, environmental issues) and tortious liabilities (such as negligence). In the UK domestic context the law relating to the domestic supply chain is known as either commercial or mercantile law. With regard to transnational trading, it may also be referred to as ‘International Business Law’, ‘Global Trade Law’, or ‘World Trade Law.’ For the purposes of this chapter, however, it will be referred to throughout as ‘International Trade Law’ – or the Law of International Trade. The Law of International Trade is particularly complex, and this chapter is limited to describing its main elements in outline only. The references at the end include material that will enable a non-lawyer to explore further the complexities of the subject. This chapter follows a slightly different format to others in the book, as, rather than have a large case study at the end of the chapter, the text is supported throughout by one case study, designed to elucidate the legal issues as they are arise. The case study is about Peterssohn & Company, a manufacturer of machine tools, based in Copenhagen, Denmark. Peterssohn has been approached by the Tan Zhao Corporation in Huangzhao, China, who wish to purchase a bespoke machine tool to improve their production of circuit boards for use in the manufacture of industrial sewing machines.
Swipe to navigate through the chapters of this book
Please log in to get access to this content
To get access to this content you need the following product:
- International Trade Law
- Macmillan Education UK
- Sequence number
- Chapter number