Question

There are SHORT answers, Multiple Choice. 1. Please list the Sources of international business law 2. VWhat are the main characters of civil law system and common law system?. 3. What is Nontariff Barriers to Trade? 4. What is an import quota? 5. Principles of International Commercial Contracts (PICC) is a A, Convention 6. Please describe the Essential elements of a valid contract under common law B. Model law C. Municipal law D. Custom system.. 7. Please describe the Valid Time of Acceptance under different legal systems 8. What is undue influence? And in what relationships does "undue influence" often happens? 9. What is Duress in contract law? 10. What is a legal remedy in contract law?. 11. What are the Buver's and seller's remedies under CISG? 12. In case Avery v Bowden (1856), a ship was supposed to pick up some cargo at Odessa. With the outbreak of the Crimean War, the government made it illegal to load cargo at an enemy port, so the ship was excused from performing due to A. Impossibility of performance B. supervening illegality C. frustration of purpose D. commercial impracticability 13. What is a Voyage charterparty? 14. What is a constructive total loss? 15. Please shortly describe the National Monetary Systems

Answer 1

Q1) the sources of international business law constitutes the following

1. treaties
2. international customs
3. general principles of law as recognized by civilized nations
4. the decisions of national and lower courts and scholarly writings.

Q2) The distinctive feature of common law is that it represents the law of the courts as expressed in judicial decisions. Judges decide cases found in previously decided cases and then make decisions according to past decisions whereas in the civil law system the decisions are based on statutes and prescribed texts.

Q3) A Nontariff barriers are the bariffs to trade which do not involve taxes they may include quotas, embargoes, sanctions, and levies.

Q4) An import quota is a kind of trade restriction in which the government sets a limit on the quantity of any good that can be imported.