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Essay / Research Paper Abstract
This 14 page paper examines the role and importance of INCOTERMS. The paper begins with a consideration of how commercial law began in England and how it has developed to give the background against which INCOTERMS (international contract terms) may be assessed. The paper then looks at the changes between the 2000 and the 1990 version then moving on to consider how INCOTERMS may be seen as supporting and supplementing UK law where used, with the emphasis on FOB (free on board) contracts. The bibliography cites 20 sources.
Page Count:
14 pages (~225 words per page)
File: TS14_TEincotr.rtf
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Unformatted sample text from the term paper:
down. The emergence of commercial law in the UK may be seen as a development that has taken place through statute and common law leading to an evolution which has
been required in terms of facilitating commercial trade and laying down basic rules. Commercial law may be seen as a tool that not only regulates, but also facilitates trade. There
have been many tools that have been used to support the law, one of those which is often underestimated are INCOTERMS. Buy considering the role and purpose of commercial
law and the purpose of INCOTERMS their true value as a tool to the reduction of trade barriers, whose principles are supporting and supported by both UK law as well
as international law. Commercial law covers a wide range of issues which in board terms includes agency, sale of goods, negotiable instruments and other matters relating to business transactions
(Card et al, 1998). When looking at the role and purpose of commercial trade law it is worth noting the law has remained even as governments and economies have changed.
Commercial law may be seen as starting with the law merchant (Goode, 1995). There was a local law administered by the merchant with their specialist mercantile courts prior to its
absorption into common law (Goode, 1995). The maritime courts during this time of the middle ages were also separated form the more mainstream legal elements with law decided and enacted
in terms of the general law of nations, such as the Laws of Oleron and the more general mercantile codes and customs rather than by reference to English domestic law
(Goode, 1995). This placed the courts in a very separate role from the domestic courts as they would hear cases not only form the home merchants, but also those from
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