CODE | CML4012 | ||||||||
TITLE | Aspects of International Commercial and Business Law | ||||||||
UM LEVEL | 04 - Years 4, 5 in Modular UG or PG Cert Course | ||||||||
MQF LEVEL | 6 | ||||||||
ECTS CREDITS | 4 | ||||||||
DEPARTMENT | Commercial Law | ||||||||
DESCRIPTION | The study-unit examines aspects of international commercial and business law, with particular emphasis on the international sale of goods. The unit will examine the various trade terms adopted in international contracts for the sale of goods and consider their relationship with other interrelated contracts, such as (i) contracts of carriage by sea by means of which goods sold are transported to their destination, (ii) contracts of marine insurance by means of which goods transported are insured against risk of loss or damage and (iii) documentary letters of credit by means of which the seller is assured of payment in an international sales transaction. The study-unit will start by examining the outline of the international sale transaction, the form of the international contract of sale of goods, and trade terms that have developed to describe the type of contract and the rights and obligations of the parties to such transaction. International sale contracts differ depending on the rights and obligations assumed by the seller and buyer. The different types of international sale contracts are often described by different trade terms such as CIF, FOB and ex Works. Particular reference will be made to the CIF (Cost Insurance and Freight) contract and FOB (Free on board) contract and the respective buyer and seller obligations, issues related to passing of risk of loss or damages to the goods and issues related to passing of title. Reference will be made to the Incoterms developed by the International Chamber of Commerce with respect to the various trade terms that have developed over time describing the various different types of international sale contracts which contracts vary depending on the different responsibilities assumed by the seller in the international sale contract in respect of price, delivery, transportation, insurance, risk and title. The primary mode of transport of goods in international sale contracts remains transport by sea. To this effect the study unit will examine the contract of carriage by sea with a detailed examination of the bill of lading which is the main document issued by the sea carrier transporting the good. The functions of the bill of lading, statements found in the bill, endorsement and delivery of the bill of lading, will be considered under this part. The application of international conventions, particularly the Hague Rules, the Hague-Visby Rules and the Hamburg rules will be examined as regards the obligations of the parties to the contract of carriage by sea , particularly the obligations of the sea carrier in respect of the goods being carried, the rights and immunities of the sea carrier in the event of damage or loss of the goods being transported at sea, and liability of the sea carrier in the event of damage or loss, and exemption clauses, will be analysed. The Maltese Carriage of Goods by Sea Act and the Hague Rules, will be the basic laws used for this unit.. The unit also examines in detail the various forms of payment, in particular the legal nature of documentary credits, types of documentary credits and their advantages, the practical workings of a documentary credit operation and the legal application of documentary credits. Besides Maltese Law, reference will be made to Incoterms, and the workings of the United Nations Commission on International Trade Law (UNCITRAL), and the Vienna Convention on the International Sale of Goods. The student will at the end of the study unit have a good understanding on international contracts of sale which is distinct from a purely domestic sale transaction and consequently a good understanding of aspects of international commercial and business law which is the lifeline of international trade. Main Text/s and any supplementary readings: - Clive Schmitthoff’s Export Trade: The Law and Practice of International Trade - John F Wilson, Carriage of Goods by Sea - William Tetley, Marine Cargo Claims - Francis Reynolds QC, The Liability of Freight Forwarders (1st ed. 2013 Taylor and Francis Group) - T Felicity G. Attard The duty of the shipmaster to render assistance at sea under international law (2020). |
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ADDITIONAL NOTES | Students taking this study-unit need to have a background in law. | ||||||||
STUDY-UNIT TYPE | Lecture | ||||||||
METHOD OF ASSESSMENT |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |