COMMERCIAL LAW
Course overview:
• Body of transnational commercial law & its development over time:
- What is commercial law, how has it developed over time, and the what is the body of law
governing commercial transactions?
• The sale and receipt of goods and related governing conventions:
- What are the main conflicts of interest between buyer and seller in the international sale of goods?
- How are they resolved, and what are the main conformity requirements for documents required to
support these agreements?
• Financing mechanisms in international trade agreements:
- What are the main payment mechanisms and conventions which are used in international
commercial agreements?
- What are the insolvency rules which are applied when high valued assets are purchased?
• What are the main legal issues ?
Contents:
W 1: Introduction
- Ch. 1
W 2: International sales and the CISG (1) – scope and interpretation
- Ch. 8
W 3: International sales and the CISG (2) – key provisions
- Ch. 8
W 4: Carriage of goods by sea
- Assignment 1 due 26th February – on 8 and 9
- Ch. 9 excl other travel doc
W 5: International bank payment undertakings
- Ch. 11
W 6: Financial leasing & Receivables financing
- Ch 12- 13
W 7: International mobile equipment
1
, - Assignment 2 due
- Ch 14
W 8: Agency & distribution
- Ch 14
W 9: Transactions in securities
- Ch 15
W 10: Cross-border insolvency
- Assignment 3 due
- Ch 17
W 11: Recurrent issues and challenges of international harmonization of commercial law; review
and exam prep
- Ch 20-21
Exam:
- 100% - multiple choice & essay type questions – 120 min
- Three assignments – BONUS
- 26 questions – 3 parts: 18 multiple choice (1-2 p), 4 short open ended (5 p), 4 essay (20
p)
2
, Week 1: The nature, history and sources
of commercial law
1. Nature of commercial law
2. The historical development of transnational commercial law
3. Sources of (transnational) commercial law
1. Nature of commercial law
Commercial law = body of law that governs the private rights and obligations of parties to
commercial transactions; is concerned with transactions between professionals, whether they
are merchants, financiers or intermediaries; the definition includes: (1) institutional law, (2)
consumer law, (3) public law
Commercial transactions = Arrangements and agreements between professionals for the
provision and acquisition of goods, services, and facilities in the way of trade – Roy Goode
Transnational commercial law = law that governs international commercial transactions and is
common to legal sys- tems generally or to a significant number of legal systems; the focus is on
cross-border transactions ≠ international economic law (branch of public international law
primarily concerned with dealings between states and resolution of inner-state disputes by
organs of WTO)
3
, Four key characteristics
Focus on Excluded from a commercial code
Transactions Law governing institutional structures
Dealings between merchants Consumer law
Centered upon contracts and use of market Legal obligations from non-contractual
source
Large mass of transactions Occasional transactions with no need of
standards treatment
➔ This distinction is important because, most jurisdictions do not have a commercial law
code (e.g., Supernational jurisdictions such as in the EU).
➔ Modern commercial law evolved from Midevial Law, more formally known as “Lex
mercatoria”.
Examples of typical commercial transactions:
- Carriage of goods
- Distributorship
- Warehousing
- Insurance
- Equipment leasing
- Receivables financing
2. The historical development of transnational commercial law
The evolution of medieval law of merchant
4
Course overview:
• Body of transnational commercial law & its development over time:
- What is commercial law, how has it developed over time, and the what is the body of law
governing commercial transactions?
• The sale and receipt of goods and related governing conventions:
- What are the main conflicts of interest between buyer and seller in the international sale of goods?
- How are they resolved, and what are the main conformity requirements for documents required to
support these agreements?
• Financing mechanisms in international trade agreements:
- What are the main payment mechanisms and conventions which are used in international
commercial agreements?
- What are the insolvency rules which are applied when high valued assets are purchased?
• What are the main legal issues ?
Contents:
W 1: Introduction
- Ch. 1
W 2: International sales and the CISG (1) – scope and interpretation
- Ch. 8
W 3: International sales and the CISG (2) – key provisions
- Ch. 8
W 4: Carriage of goods by sea
- Assignment 1 due 26th February – on 8 and 9
- Ch. 9 excl other travel doc
W 5: International bank payment undertakings
- Ch. 11
W 6: Financial leasing & Receivables financing
- Ch 12- 13
W 7: International mobile equipment
1
, - Assignment 2 due
- Ch 14
W 8: Agency & distribution
- Ch 14
W 9: Transactions in securities
- Ch 15
W 10: Cross-border insolvency
- Assignment 3 due
- Ch 17
W 11: Recurrent issues and challenges of international harmonization of commercial law; review
and exam prep
- Ch 20-21
Exam:
- 100% - multiple choice & essay type questions – 120 min
- Three assignments – BONUS
- 26 questions – 3 parts: 18 multiple choice (1-2 p), 4 short open ended (5 p), 4 essay (20
p)
2
, Week 1: The nature, history and sources
of commercial law
1. Nature of commercial law
2. The historical development of transnational commercial law
3. Sources of (transnational) commercial law
1. Nature of commercial law
Commercial law = body of law that governs the private rights and obligations of parties to
commercial transactions; is concerned with transactions between professionals, whether they
are merchants, financiers or intermediaries; the definition includes: (1) institutional law, (2)
consumer law, (3) public law
Commercial transactions = Arrangements and agreements between professionals for the
provision and acquisition of goods, services, and facilities in the way of trade – Roy Goode
Transnational commercial law = law that governs international commercial transactions and is
common to legal sys- tems generally or to a significant number of legal systems; the focus is on
cross-border transactions ≠ international economic law (branch of public international law
primarily concerned with dealings between states and resolution of inner-state disputes by
organs of WTO)
3
, Four key characteristics
Focus on Excluded from a commercial code
Transactions Law governing institutional structures
Dealings between merchants Consumer law
Centered upon contracts and use of market Legal obligations from non-contractual
source
Large mass of transactions Occasional transactions with no need of
standards treatment
➔ This distinction is important because, most jurisdictions do not have a commercial law
code (e.g., Supernational jurisdictions such as in the EU).
➔ Modern commercial law evolved from Midevial Law, more formally known as “Lex
mercatoria”.
Examples of typical commercial transactions:
- Carriage of goods
- Distributorship
- Warehousing
- Insurance
- Equipment leasing
- Receivables financing
2. The historical development of transnational commercial law
The evolution of medieval law of merchant
4
