Submitted by: Submitted by altyshka
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Words: 4225
Pages: 17
Category: Other Topics
Date Submitted: 08/21/2010 05:02 PM
Contents
Introduction. 3
Lex mercatoria 4
Administration 4
Legal concepts 4
Common law development 5
International commercial law and arbitration 5
Lex mercatoria in future 5
Convention on the International Sale of Goods 6
Countries that have ratified the CISG 6
Major absentees 7
Language, Structure and Content of the CISG 7
Part I - Sphere of Application and General Provisions (Articles 1-13) 8
Part II - Formation of the Contract (Articles 14–24) 8
Part III - Sale of Goods (Articles 25–88) 9
Part IV - Final Provisions (Articles 89-101) 9
Commentary upon the Convention 10
Differences with country legislation relating to the sale of goods 10
Differences with United States of America legislation 10
Future directions 12
Conclusion 12
Bibliography 12
INTRODUCTION
International commercial law is the body of law that governs international sale transactions. Since World War II international trade has grown extensively, seeing the increasing importance of international commercial law. It plays a vital role in world development, particularly through the integration of world markets.
The United Nations Convention on Contracts for the International Sale of Goods (CISG) is the main convention for international sale of goods. Established by United Nations Commission on International Trade Law (UNCITRAL), the Convention governs the conclusion of the sale contract; and buyer and seller obligations, including respective remedies. It is not concerned with the validity or provisions of the contract nor its effect on the property sold.
The importance of CISG is its interpretation. International context, uniformity and observance of good faith must be regarded when interpreting the Convention. Matters not expressly settled by CISG are to be determined according to the general principles of CISG; or in such absence, according to rules of private international law.
Lex mercatoria refers to that part of...