This course is an introduction to the law of international trade and finance. Students consider the problems of conducting business in the global community. The approach is primarily transactional and combines the legal theory and practice of doing international business. Topics include the formation of agreements required for the international trading of goods, such as the documentary sale, the letter of credit, the contract of sale and the consequences of wars and other frustrations of contract, and the bill of lading or sale without a letter of credit. Students will study the regulation of international business by import and export controls, tariffs and non-tariff barriers, and customs classification and valuation. The transfer of technology by means of franchising and licensing agreements leads to a discussion of the pirating of intellectual property. Students will study the legal framework for establishing a foreign direct investment abroad or a joint venture. Other topics include the resolution of international disputes by trial or international arbitration, the role of the General Agreement on Tariffs and Trade, the WTO, TRIPS, NAFTA, China, and the European Union in regulating international business. This course focuses on the cultural differences that influence the establishment of international business ventures.
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