Topic 1

Question 1

What are the key concepts of international commercial law ?

Answer 1

• party autonomy
• no protectionism
• commercial sense
• internationalization
• predominantly private law, some public law
• multiplicity of contracts
• contextual understanding

Question 2

In commercial law there is very little mandatory law, instead we focus on:

Answer 2

1. Party autonomy, and

2. Commercially sound assumptions

Question 3

What are the sources of international trade law in the absence of mandatory law?

Answer 3

• party autonomy dictates:
• the contract
• express and implied terms
• otherwise applicable laws
• common law
• classified customary law
• non classified customary law
• non legal standards such as quality etc

Question 4

But if there is mandatory law it:

Answer 4

• negates party autonomy
• limits of contractual freedom are found at the barriers of mandatory law
• implied terms
• public policy

Question 5

What does gapfilling law do ?

Answer 5

Supplements party autonomy

Question 6

What is gapfilling law overruled by?

Answer 6

• mandatory law (overrules everything)
• intent
• trade practices
• most commercial regulations (eg CISG, SGA, CAA)

Question 7

What does multiplicity of contracts mean?

Answer 7

The contracts are fundamentally interrelated, ie. connected and co-dependant