INTERNATIONAL BUSINESS LAW

Law and Order in the International Business and Commercial Law: The Impact of Interstate Relations of Businesses

“Law and Order in the International Business and Commercial Law: The Impact of Interstate Relations of Businesses”

Research questions and focus

The main question to be addressed in this research study will be as followed:

1) What is the international business and commercial law?

2) What is the impact of international business and commercial law on the business?

3) What is interstate relation of business?

4) What is the impact of international commercial/business law on the interstate relations of business?

Background to the proposal

Law is the necessary component of each and every activity. Thus, just like the many activities, there are also some legal laws and jurisdictions on the international business and commercial activities. The international commercial law is the law which is used to govern the transactions including the international sales. Any transaction that includes the activities of more than one country is considered to be an international transaction. A tremendous growth has been noticed in the international trade since the WORLD WAR II, observing the growing significance of the international commercial law. There is a very important role of international trade in the development of the world, especially through the world market integration. According to the international business and commercial law, it is necessary for the companies and the business parties that they should be involved in the international commercial contracts. As per the international business law, it is necessary for all the business transactions which are made on international level that they should properly follow the international business law. The main purpose of the international business law is to protect the international business transactions from any kind of illegal acts. It assures that the ethics are being followed in the international business transactions, and the business transactions are free from any illegal acts. Thus, there is a very positive impact of the international commercial law on the business transactions around the globe. One of the key factors for success of European integration is the law of the European Communities and the Union. Some authors have even claimed that "the process of integration is largely due to specific features of Community law. Indeed, the right which has arisen with the creation of the Communities, it was not only a tool for design and integration advances security, but also the most important system-forming factor, contributing to the deepening of integration processes.

The international business law also has an impact on the interstate relations. The interstate relations refer to the relationships between the states of the economic and political units in the international law, international finance and economics, international organizations and international communication among one another. There is a great importance of maintaining sound interstate relationship; therefore, many steps have been taken in order to improve the interstate relationships. International business law is one of these steps. The main rationale of this law is to bring the positive impact on the international business transactions, and apply the regulations on the ...