What are the three types of international business transactions?
- exports
- licensing
- foreign direct investment
What are the types of FDi?
Acquisition
Joint VEnture
Startup
What are some challenges that differentiate international trade from normal trade?
Customs/Tariffs Culture finances (different money, banking systems, etc.) language laws and their differences
What are documents of title?
provide title in the goods to the holder of the document. Uses=d to protect the parties when goods are shipped internationally.
What is the difference between public and private law?
Public Law - affects and applies to society as a whole, what the state is doing. E.g., Admin Law, Constitutional Law, Criminal Law.
Private Law - Applies more to individuals; Engaged between private individuals. E.g., Contracts, Torts
What is a legal tradition and what are the five types?
a set of deeply held, historically conditioned attitudes about how law is formulated, taught, applied, and interpreted, as to the relationship between law and society. • Civil law • Common Law • Islamic Law • Indigenous Law • Chinese Law (Socialist to an extent)
What is a legal family and give examples?
A set of legal systems present within the current world of nation-states that share a legal tradition
• Japan, Chile, Germany - all share the civil law tradition
• U.S., Canada, Australia, U.K. - are a family that shares the common law tradition.
What is a legal system?
The body of legal rules, both primary and secondary in character, that define and govern legal relations within a particular political entity (most typically, a nation-state).
U.S. has numerous legal systems within it. Federal Law, State laws, territories (Puerto Rico, Guam)
What are some of the key differences between legal traditions?
- Authority of precedent
- Historical background - what influenced the formation of that type of law.
- Fundamental structures
- Education
