Go to Database Directory || Go to Bibliography
Search the entire CISG Database (case data + other data)

Reproduced with permission of the author. Dissertation submitted in partial fulfilment of the requirements for the Master of Laws (LL.M.) Degree (January, 2012).

The Benefits of Uniformity in International Commercial Law with Special Reference
to the United Nations Convention on Contracts for the International Sale of Goods (1980)

Puja Soni

TABLE OF CONTENTS
Acknowledgment
Certification
Abstract
CHAPTER 1: INTRODUCTION
CHAPTER 2: INTERNATIONAL COMMERCIAL LAW: AN OVERVIEW
    2.1  The Definition of International Commercial Law
    2.2  The Chronological Background of International Business
            2.2.1  The Medieval Law Merchant
            2.2.2  The amalgamation of Law Merchant in the Domestic Law
            2.2.3  Revitalization of International Mercantile Law
    2.3  Sources of International Commercial Law
    2.4  Risks in International Business
CHAPTER 3: BENEFITS AND DISADVANTAGES OF HARMONIZATION
    3.1  The Meaning of Harmonization and Unification
    3.2  Advantages of Harmonization and Unification
            3.2.1 Homogeneity of Laws from different Jurisdictions
            3.2.2 Reduction of transactional Costs
    3.3  Arguments against Harmonization
            3.3.1  The Benefits of Diversity
            3.3.2  Constrained Interpretation by Domestic Courts
CHAPTER 4: VEHICLES OF HARMONIZATION OF INTERNATIONAL COMMERCIAL LAW
    4.1  General Framework
    4.2  The Hague Conference on Private International Law
    4.3  UNIDROIT
    4.4  UNCITRAL
    4.5  The International Chamber of Commerce
CHAPTER 5: VIENNA CONVENTION ON INTERNATIONAL SALES CONTRACT
    5.1  Historical Background and Factual Preview of the CISG
    5.2  Successes of the CISG
    5.3  Criticism of the CISG
    5.4  The Stand of the United Kingdom
CHAPTER 6: CONCLUSIONS
BIBLIOGRAPHY


Acknowledgment

This effort was made possible by the grace of Lord Ganesha who gave me the strength and determination to complete this work.

I would like to express my deepest and sincere heartfelt gratitude to my supervisor Sukhninder Panesar. He provided me with the unflinching support and my experiences under his tutelage have helped me to understand 'International Business Law' better than I would ever have imagined I could. I am also grateful to all my module tutors who did their best to share their wealth of knowledge during my course. Beth Richards Bray, Margaret Liu and Angela Marshall have provided much interesting discussion and new content as well as plenty of assessments. A special thank you must go to the LL.M. course leader Dr. Stephen Foster for being very efficient in responding to my academic need. I would also like to convey my regards to the Law Librarian Sue White for assisting me towards the access to online research.

Throughout my work on quite a consistent basis I referenced eminent Professor Roy Goode for the textbook: Transnational Commercial Law he wrote and several articles. This note of gratitude would be imperfect without him being given a mention.

This dissertation is dedicated to my lovely Aunty- Dr. Alpana Sharma who is the greatest source of inspiration for her prayers and encouragement throughout my education even when it was not convenient.

Puja Soni


Certification

I, Puja Soni hereby certify that this work is absolutely the result of my own research, and confirm that the originality of this work, which has neither been presented in whole nor in part for another Masters degree elsewhere. References to other people's works and academic resources have been duly acknowledged.
.........................................
Author


Abstract

Over the last two hundred years, traders, lawyers and scholars gathered in several venues to advocate harmonization and unification in transnational commercial law. The justification for such recommendation lies in the acknowledgment that it brings with itself diverse virtues that affects cross border transactions. It further diminish various risks inherent in international business for instance, conflict of laws. In order to achieve this goal various international instruments are promulgated including conventions and model laws. At present the most glorious endeavour that has advanced harmonization is the adoption of United Nations Convention on Contracts for the International Sale of Goods (1980) by the majority of the countries. However, the non- ratification of this Convention by the United Kingdom and lack of transnational business court paralyzed its triumphant. In light of this, this dissertation examines the process of the harmonisation and unification in light of the Convention of the International Sale of Goods.


CHAPTER 1: INTRODUCTION

The twentieth century has witnessed an enormous augmentation in the cross border commercial activities.[1] Although this proliferation is spurred with the advancement of the concept of the global village and industrialization, yet its evolution 'presents an interesting paradox for proponents of sovereignty in international law".[2] Nevertheless, the creation of international commercial law is desired on the ground that it removes impediments inherent in domestic commercial transactions, for example, transactional expenses and risk of exposure of laws in foreign countries. One of the best ways to remove such barrier is harmonization of business laws that is 'used as a surrogate to discuss the creation of international commercial law".[3] Although harmonization is different from unification of laws, both the terms are used interchangeably in this dissertation. Harmonization is brought in almost every field of business law for example, trade and patents. As "the contract of sale is the backbone of international trade in all countries, irrespective of their legal tradition or level of economic development"[4] it is noteworthy to mention the United Nations Convention on Contracts for the International Sale of Goods (1980) that is acknowledged as the milestone of harmonization and unification of business laws. This dissertation is aimed to bring various aspects of harmonization of business laws in the light of the U.N. Convention on Sales law (1980). Considering the nature of this research, the author will, in the course of this dissertation, use the two expressions "commercial law" and "business law" interchangeably. Correspondingly "international business law" and "transnational commercial law" are referred reciprocally.

It is in this light, Chapter Two begins with an introduction to the subject matter: international business together with a succinct overview of the various kinds in which international commercial transactions can be undertaken: trade, licensing and foreign direct investment. Further this chapter explores the various laws that affect transactions operating overseas: domestic law, private international law and public international law. The second segment of this Chapter examines the chronological framework of the development of the international business law. Particularly it will focus on the lex mercatoria which was the first instance of the harmonization of business laws. Afterwards it will examine the various significant sources of international business law, for example, international conventions, model laws, and general principles of international law. At the end of this Chapter, the reader can find a demonstration of the several risks inherent in business world. Particularly it will focus on four significant uncertainties, for instance, currency risk and political risk.

Harmonization is a concept of antiquity. However it came into play a prominent role after Second World War with the development of the globalization. In order to provide a framework about harmonization, Chapter Three will begin with the several controversial definition of the harmonization put forwarded by eminent scholars, for instance, professor Goode, professor Ziegel and Leebron altogether with the difference between the colonial harmonization and modern harmonization. Although harmonization is different from various other concepts such as codification, in this dissertation it will only focus on the differentiation between harmonization and unification of laws due to shortage of word limit. Subsequently it will explores the two significant advantages of harmonization and unification of business laws. It will begin with the most welcomed advantage of the harmonization that is uniformity of laws in place of diverse laws provided by various jurisdictions. Subsequently it will critically examine the second advantage of harmonization: minimising of transactional expenses. On the side of the harmonization there appear several disadvantages and thus it is appreciated to provide arguments that are against the harmonization. However it will look only on the two crucial disadvantages of harmonization: the virtues of diverse laws and restrained interpretation by national courts of the international instruments.

Chapter Four paint the landscape of various instruments that contribute in bringing harmonization of business laws directly or indirectly. Although the process of harmonization is as old as mankind the credit goes to the three intergovernmental and one private organization: Hague Conference on Private International law, the Institute for the Unification of Private Law (hereinafter 'UNIDROIT'), the United Nations Commission on International Trade Law (hereinafter 'UNCITRAL'), and International Chamber of Commerce (hereinafter 'ICC'). This Chapter gives an overview of these Organizations with their purposes. In what ways these Organization brought harmonisations is also a central attraction of this Chapter.

Chapter Five, that is the crucial part of this piece of work, commences with the succinct historical framework of the most auspicious effort of harmonization till date: United Nations Convention on Contracts for the International Sale of Goods 1980 (hereinafter 'CISG' or 'Vienna Convention'). It is then preceded with the various foundations on which its achievement is based, for instance, the enormous number of ratification by the countries and the groundbreaking impact on various other existing instruments. This Chapter also aims to clarify its success in preview of the failures of its predecessors. Then it will explore the other side of the coin: its criticism. It is appreciated because a comprehensive preview of the CISG will be curtailed without presenting arguments against the CISG that are put forwarded by the eminent scholars. The most severe attack on its success lies in the non- ratification of the Convention by the United Kingdom (hereinafter 'UK'). In order to provide an overview of this blunt criticism, this Chapter at the end aims to provide various justification for UK's non- ratification and efforts initiated by the United Kingdom's government in this concern.

Chapter Six will bestow a conclusion by concocting a concrete evaluation on the degree of harmonization and unification achieved so far by the CISG in international trade transactions.

CHAPTER 2: INTERNATIONAL COMMERCIAL LAW: AN OVERVIEW

2.1 The Definition of International Commercial Law

The landscape of "international business" so far has not enjoyed a discrete characterization that may acquire the harmony of scholars.[5] For instance, Robock and Simmonds defined: "international business as a field of management training that deals with the special features of business activities that cross national boundaries".[6] Daniels and Radebaugh also took analogous approach.[7] Contrary, Toyne posits that international commercial involves 'an extensive exchange process that encompasses not only goods but also social, cultural, and human interactions across national boundaries'.[8] Thus, it involves cross border commercial activities that are being affected by social, political, and legal environment of the different countries.

International business can take three forms: trade, foreign direct investment (FDI), and licensing.[9] Trade consists of the export and import of goods. FDI is defined as 'a form of equity investment which gives the investing firm control over its assets, property and subsidiaries in the host country'.[10] In simplest form, it means the capital investments made by multinational companies in foreign countries. Since the Second World War, much of the FDI take place through the multinational enterprises.[11] Another effective method of conducting business overseas is granting licensing rights in property without transferring possession of it to foreign company in return of royalty for a specified period of time.[12] Well-known brand names are Levi, Nike and MacDonald.

However, a business crossing national frontiers is affected by three sets of laws. Firstly, it is affected by the national laws as each country has a different domestic structure for controlling international activities, such as flow of goods.[13] Secondly, public international law which consists of set of rules governing the conduct of states in their intercourse with each other. Many rules of this branch of law have direct impact to international commerce, for instance, rules relating to state succession resolving territorial disputes.[14] Lastly, it is influenced by rules emancipated by private international law through international conventions.[15] It deals with 'the rights and responsibilities of private individuals or corporations operating in an international environment'. For example, United Nations Convention on International Sale of Goods contains rules for international sale contracts.[16] In addition, there a number of international organizations that directly affects cross border activities.[17] For instance, judicial decisions of International Court of Justice [18] have a profound impact on business transactions.[19]

Transnational law may be summarized in the colourful words of eminent Professor of the United Kingdom- Roy Goode as: "a body of codified and uncodified principles and rules which cross national borders".[20] Professor Goode had replaced the phrase 'transnational commercial law' to 'international commercial law'.[21] International business law may be defined as:

"[t]hat set of private law principles and rules, from whatever source, which governs international commercial transactions and is common to legal systems generally or to a significant number of legal systems".[22]

Thus there are three essential characteristics of this definition. Firstly, it encompasses all set of principles and rules that join two specific parties through the phenomenon of accountability that is, private law.[23] Secondly, such principles govern international commercial transactions and derive the authority from various sources, such as lex mercatoria.[24] Thirdly, such principles are uniform to significant number of legal system.[25] In other words, international business describes a broad gamut of business conducts that transcends of national frontiers.[26]

International commercial law should be distinguished from international economic law.[27] The latter forms part of public international law [28] including 'all branches of law concerned with economic phenomena of international concern'[29] and the former is a branch of private international law.[30] Secondly, it is concerned mainly with the multitude of bilateral and multilateral treaties [31] for example, Treaty of Friendship, Commerce and Navigation Between Argentina and the United States (1853). Contrary, international business law deals with the legal organization of international, business transacted on the level of private law.[32]

International business law and international economic law, though, are analogous on various fronts. For instance issues related to the exploration of the validity of tariff and nontariff barriers, such as import quotas, may both distort trade and economic flows between countries.[33] For instance, sales cannot be completed without taking into account tariff and non tariff barriers to export business and their international validity.[34] Secondly, in some branches of international business, such as joint ventures, contracts between states, on the one hand, and subjects of private law on the other, are not strange.[35] Illustrations of these 'mixed' contracts are agreement dealings with a funding of oil or mineral concessions.[36] Such contracts affect both the legal arena.

2.2 The Chronological Background of International Business

"International business is claimed to be as old as the history of mankind itself".[37] Hammurabi's Code of laws which date back to 2500 BC and had several provisions of commercial law illustrates vividly the first instances of written commercial law.[38] The Rhodian maritime code or Lex Rhodia introduced, within the Mediterrian community, in the second or third century BC, which was used by Greeks and Romans, is a renowned code which on record incorporated within its tenets the principal of maritime law.[39]

However, the development of international business underwent metamorphosis over the following three stages.[40]

2.2.1 The Medieval Law Merchant [41]

Evolution of commercial law predominantly took place during the Middle Ages in Europe manifesting itself in lex mercatoria or 'law of merchants'.[42] A surge in agricultural activity during this time and the consequent urbanization led to the inception of medieval law merchant.[43] According to Professor Goode, 'Other factors were the opening up of caravan routes between East and West in the constant search for new market, and the impact of the crusades'.[44] The onset of professional merchants who carried out international business ensued. However the intricately localised legal framework served as barriers to their intentions of expanding international business.[45] To circumvent this, international system of commercial law i.e. the medieval law merchant (MLM) was conceptualized.[46] Merchants began to transact business across local boundaries, transporting innovative practices in trade to foreign markets.[47] The mobility of the merchant carried with it a mobility of local custom from region to region.[48] Consequently leads to the various compilations of commercial customs, mostly maritime. For example, in the mid-fourteenth century the consolato del Mare, a collection of the customs of the sea observed in the Consular Court of Barcelona came to be accepted as governing law in the commercial centres of the Mediterranean.[49] However, the greatest development during this time is the concept of a lex mercatoria, which included not only maritime customs but also customs and markets.

There are varied interpretations of the concept of "Law merchant".[50] Mitchell stated that "the law merchant was a body of rules and principles relating to merchants and mercantile transactions, distinct from the ordinary law of the land".[51] Another interpretation states it as "an international, harmonious system of commercial law".[52] Ole Lando associate this term with "transnational commercial law (cross-border transactions)" with traits of uniform laws and general principles of law.[53] Goode, on the other hand, constrained it to unwritten customs and usages of business laws.[54]

However there existed a majority of scholarly work having a contrarian viewpoint from the ones above. Donahue, for instance, points out to there being no existence of historical evidence that there ever was a law merchant.[55] Ewart concurs stating that the law merchant was: "nothing but a heterogeneous lot of loose undigested customs, which it is impossible to dignify with the name of a body of law".[56] These claims can be substantiated by there being a number of 'merchant' courts which were pedestrian court transacting business.[57] The Fair Court of St Ives illustrates what must not be taken to be: 'a special court for merchants, but rather as a seigniorial court whose business is primary commercial in nature'.[58] According to Highet: lex mercatoria is 'a schoolboy fallacy' or like "the Emperor's clothes, be nonexistent, and yet one can still argue about it at great length".[59] Nevertheless there exist lex mercatoria that can be defined as the first instance of harmonization of business laws that consists of customs of merchants.

Furthermore, Professor Berman laid stress on the universal and objective traits of lex mercatoria.[60] Berman states that rights and duties of merchants, and thereafter, were more uniform and general; the cause of this being cosmopolitan and transnational character of law merchant.[61] Baxter's arguments proved to be fatal blow against Professor Berman's proposition as Baxter stated that in the midst of the tenth and thirteenth century, crucial local differentiations about the nature of commercial transactions existed.[62] Baxter posits: "Each important fair had its local version of the law merchant, being a set of commercial rules to be observed by merchants attending that fair and applied to transactions made there".[63] Nevertheless, this universal law turned out to be the epitaph of uniform law of international business. Additionally, Bane held that the unique characteristic of the law merchant was its flexibility; merchants were not legally bound by the local laws and thus were able to carry out best business practices.[64]

Merchants formed their own courts to adjudicate disputes in accordance with their own laws. Judges of such courts were merchants chosen from the relevant merchant community. Such courts were established as a consequence of two reasons.[65] Firstly, national law often different from commercial law, thus necessitating a separate judicial system or uniform judicial organ.[66] Lastly, resolutions of commercial disputes often required consideration of highly technical issues.[67]

2.2.2 The amalgamation of Law Merchant in the Domestic Law

As the modern nation-state concept developed during the sixteenth century, rulers of sovereign [68] states began to regard the autonomous lex mercatoria as an external threat to internal cohesiveness.[69] In an attempt to subject all citizens to a single national law, the privileged status afforded merchants during the medieval era was terminated.[70] However, the innovations of the lex mercatoria were not completely ignored; rather they were assimilated into national law to the extent that they were compatible with national policies. The incorporation of the law merchant into municipal law was motivated by various factors.[71] For instance, in England the main motive for the final incorporation of the law into the common law was economic as trade, particularly with foreign countries, had become part of the life of the nation.[72] While in the 1600's it suffered a severe setback as a source of law as a consequent of appointment of Coke as Lord Chief Justice in 1606.[73] Coke asserted that "the Law Merchant was not a universal system of merchant practice". Accordingly, the doors to national legal controls over international trade were openly to the king's courts and, as a result, the international character of the medieval lex mercatoria was eventually eroded.[74]

However, in 1756, the law merchant was integrated into the common law of England by then two renowned common-law judges, Lord John Holt and William, Lord Mansfield.[75] For his immeasurable contribution action to bring the law merchant into the common law, Lord Mansfield is heralded as the Father of English Commercial law.[76] His primary technique was to use a special jury of merchants to find the appropriate mercantile custom or usage and then to use that finding as a rule of law for subsequent cases.[77]. The reform which Lord Mansfield carried out when sitting with his special juryman at the Guildall of London, was ostensibly aimed at the simplification of commercial procedure and the creation of a body of harmonized commercial law, modern in character and in harmony with the principles of the common law.[78] In Pelly v. Royal Exchange Assurance, it was held that: "The mercantile, in this respect, is the same all over the world".

2.2.3 Revitalization of International Mercantile Law

The second half of the nineteenth century saw the commencement of the growth of international business law. However, it was in the form of exploration rather than achievement.[79] It was in the twentieth century where came a mounting acknowledgment that an international commercial transaction cannot be treated in the same way as a domestic one.[80] This century has seen the revitalization of the international community of merchants engaged in trade across national boundaries, including not only exporters and importers of goods and technology, but also ship owners, marine insurance underwriters, commercial bankers, and others involved in such trade.[81] This third stage in the development of international business law is represented by a return to the concept of internationalization which characterized the old law merchant.[82]According to Goode, the reason behind growing this new trend is lies in the fact that "the parties come from different jurisdictions with different laws and commercial practices, and they may have different expectations. Law fashioned for a purely domestic transaction are not necessarily well adapted to a cross-border transaction".[83] According to Goode, second reason for this trend is the choice of laws that boosts forum shopping.[84] While, according to Professor Andre Tunc of France, this new trend has three causes: "the similarity of commercial experience in the various countries, the political and economic importance of some countries and the drafting and ratification of international conventions".[85] Professor Aleksander Goldstajn posits that new lex mercatoria was vastly grown during this phase notwithstanding that there were dissimilarities in the legal regime of various countries. It is clear that there existed law merchant during this phase that has international character rather than centralized to the European countries.

2.3 Sources of International Commercial Law

There are several significant sources of transnational commercial law. The first important source is the customs of merchants or lex mercatoria,[86] which has explained above in great details. The second crucial source of business law is international instruments: conventions, model laws, and model rules.[87] Convention is drafted with the purpose 'to unify law by establishing binding legal obligations'.[88] Several conventions are produced by several international organizations in the field of international business arena. The best example is United Nations Convention on Contracts for the International Sale of Goods (1980). While a model law may be defined as 'a legislative text that is recommended to States for enactment as part of their national law'.[89] Model rules and model laws are not binding in character; however, they are best vehicles of harmonization of laws. Furthermore, the narrow implication of the standard- term contracts is also necessary to refer under this heading. The reason is clarified by Professor Goode in these colourful words: 'The law of contract underpins all commercial transactions, and in most systems, a core principle is party autonomy'.[90] Next important source of international business law is 'general principles of international law.[91] However, the meaning of general principle is ambiguous: for some scholars 'it means general principles of international law: others say it means general principles of national law".[92] Examples include rebus sic stantibus and pacta sunt servanda.[93] The latter is an expression of good faith [94] and means that agreements should be kept.[95] This source of business law is rarely invoked by international courts.[96]

Moreover, Restatements produced by eminent scholars are extremely influential in the development of business law. It is noteworthy to mention the American Law Institute (ALI) [97] produced by the eminent American scholars and are termed as "Restatements of the Law". Their main object is 'to clarify, modernize, and otherwise improve the law'.[98] However, such restatements do not are not binding on the courts. Such restatements are developed in various fields, for instance contract and tort. In the contract field, pride of place goes to the two well known restatements: Principles of International Commercial Contracts and Principles of European Contract Law.

2.4 Risks in International Business

It has been rightly quipped that "The management of international business is the management of risk".[99] Unlike a domestic business executive, an international executive faces greater risks, differences, and uncertainties.[100] However, such numerous risks associated therein vary depending on the method of transaction, such as trade, or licensing.[101] The various risks inherent in international commercial law are stated below.

First major risk in international commercial transactions involved the discrepancy in language and the cultural backgrounds of the transacting parties.[102] However, such difficulties have reduced significantly due to globalization [103] and abrupt rise in foreign language expertise.[104] Yet, misunderstanding in the meaning of terms can still crop up even English is far and wide used in business throughout the world.[105] In Gaskin v. Stumm Handel, GMBH,[106] the court dismissed the plaintiff's action, holding that the plaintiff's failure to speak or read foreign language (German) was not grounds for invalidating any of the provisions of the contract.

Secondly, choice of currency involved therein also another imperative concern to be taken in consideration. For example, in the contract of sale from London to Dhaka, the London seller probably insists on being paid in U.K. pound not Bangladesh taka. As the Bangladeshi currency is devalued when the seller takes Taka to Bank of England, the bank may reject them on grounds that they cannot be exchanged for U.K. pound. Another important aspect of currency risk is fluctuation in currency rate. Bernina Distributors v. Bernina Sewing Machine Co.[107] is the best authority in this way. The court in this case held: "It is a risk of international business of which the parties should be aware and plan accordingly".[108]

The third kind of political or country risk stem from political instability or civil unrest, corrupt political leadership, frequent political change, war, terrorism, or regional violence in a country in which the firm is doing business.[109] Such kind of risk is more prevalent in developing countries.[110] Expropriation [111] and nationalization [112] are main political risk entailed in international business. Cuba is the best example for having expropriated United-States-owned property in 1959.[113] However, such threats have severely diminished due to the occurrence of privatization [114] in developing countries and industrialized countries, including United Kingdom.[115]

Final risk being that of legal environment differing from nation to nation.[116] Not only the laws are different but also the resolving disputes methods are also dissimilar and often turn out to be lot more tedious. The court cases pertaining international disputes have the downside of being prolonged and costly procedures.[117] For instance, if a conflict arises between the seller and the buyer the choice of law and choice of forum issues are very possible extremely important to each party.[118] It will come as no surprise to the Boston lawyer and client that the contract law of Thailand differs from that of Massachusetts much more than the one from California did.[119] Moreover, the legal system of Thailand, including procedural law, may have very different characteristics than the legal system of Massachusetts.[120]

CHAPTER 3: BENEFITS AND DISADVANTAGES OF HARMONIZATION

3.1 The Meaning of Harmonization and Unification

As transnational commercial activities have dramatically increase in the last 30 years due to globalizations, there is a greater demand for harmonization of commercial law at international level.[121] Harmonization is as old as commercial history.[122] The clearest examples of harmonization in modern history have been the European national codifications of the nineteenth century.[123] However, it is argued that all such efforts can be only categorized as unification or colonialism, which is different from harmonization.[124] The prominent Professor Copeland argued that modern harmonization is different from colonial harmonization or 'the old formal unification'.[125] Colonial harmonization disregarded indigenous legal system and was transplanted in local laws without being giving consideration to that country's peculiar legal system and limited to few countries.[126] While in the latter category there is spirited participation in the formation of transnational commercial law from significant number of countries.[127]

Harmonization is a very ambiguous concept as different scholars have given divergent expositions. For instance, According to eminent scholar, Ziegel it can be understood as absolute uniformity of business laws (for example conventions) amongst the countries that have given recognition to those mandate.[128] Contrary Leebron defined: "harmonization can be loosely defined as making the regulatory requirements or government policies of different jurisdictions identical or at least more similar".[129] Glenn writes that the harmonization process is an evolutionary process that results in ever "greater levels of uniformity and correspondingly greater levels of supranational governance".[130] It is defined, in other words, as any endeavour, to diminish or eradicate diverse risks involved in international commercial transactions.[131]

However, it is argued that harmonization of laws is distinguished from unification of laws.[132] Unification of laws' means "adoption of an agreed set of rules, standards or guidelines for application to transnational transactions'.[133] In other words, unification of laws means implementation of homogeneous set of laws that are assigned by international organizations and embraced by separate states.[134] The varied ways includes: law reform, by the intervention of private law concepts adopted by parties, or from scholarly writings.[135] Contrary, harmonization does not lead to a settled set of agreed rules. It directs a change of rules, standards or processes in order to avoid conflicts and bring about equivalence".[136] In other words, instead of adopting of a single set of laws, harmonization involves comprehensive vehicles by which divergence in laws prevailing in heterogeneous countries are reconciled.[137]

Similarly, Professor Bridge posits that "uniformity of law strives for identicality among the laws of the various states, while the goals of harmonization are not so fine-tuned".[138] This difference between the two process can be observed in the distinction between regulations, directly applicable in identical terms in all Member States,[139] and directives, which are binding as to 'the result to be achieved'[140] but leave it to the national law for incorporation into domestic legislation.[141] It is further suggested that Harmonization is a process by which national rules and regulations are modified with the purpose to augment certainty in international commercial transactions and Unification, on the other hand, 'may be seen as the adoption by States of a common legal standard governing particular aspects of international business transactions".[142] Moreover, according to another scholar Professor Zeller, "Harmonisation is a process of making rules similar, whereas unification aims at the sameness of rules. Of course, there is an interaction between harmonising and unifying law. Arguably, harmonisation is the first, prudent step towards uniform solutions".[143] To put in simplest terms the term harmonization entails within itself an element of flexibility while the expression uniformity is toughest method of bringing laws in harmony.

While each of these expositions are controversial, it would be adequate for this dissertation purposes to compose an operational meaning of harmonization in transnational commercial law.[144] It can be defined as the process by which national law as are modified with the purpose that such modification will enhance predictability in cross-border commercial transactions. Unification may be seen as the adoption by countries of a uniform legal criterion that governs specific aspects of international commercial transactions.[145] Both the terms are applied interchangeable as both are dealt with the broader goal of international business law, namely uniformity of business laws.[146] International harmonization has been pursued in a vast array of diverse fields: monetary and fiscal policy, contract and sales law, banking law, environmental law, and trade law.[147]

3.2 Advantages of Harmonization and Unification

Though it may appear that harmonization and unification has intrinsic worth, it is imperative to appreciate the justifications put forward by various scholars.[148] Such justifications are acknowledged by the legal commune for generations.[149] This section contains a succinct summarization of the two recognized justifications for harmonization and unification.

3.2.1 Homogeneity of Laws from different Jurisdictions

One of the main purposes, according to Professor Goode, of harmonization is to proxy 'uniform set of rules for the variety of rules provided by different national legal systems'.[150] Uniform rules of commercial law are a remarkable ally to the promotion of international business and trade.[151] Such homogeneous rules augment legal certainty,[152] predictability,[153] convenience,[154] and stability in laws.[155] Various scholars have supported this line of assertion. For instance, according to Professor Bhagwati Harmonization is asserted because it reduces the diversity in policies and laws of different jurisdictions.[156] It is suggested that one approach to eradicate such anomalies is to allocate decisions to a universal political power or international business court and such pronouncements should be obligatory on all countries.[157] On the other side Zeller posits harmonization of business laws by putting forward this argument: "a diversity of laws has been found to be detrimental to the development of global trade. A uniformity of law is the desired outcome".[158] Thus, the foremost purpose of harmonization is to generate uniform commercial law, which is binding on significant number of nations.

On the other side, Ancel took a severe outlook by holding that mere existence of diverse national laws is a motivation to engage in the harmonization procedure.[159] According to Ancel, "the disparity of national laws is contrary to the requirements of the modern economy and inimical to the development of international relations; a uniform law is superior to a system of conflict of law, which allows the existence of those specific differences on which it is bases".[160] In other words, harmonization of laws is not only benefitted to the transactional parties by removing the conflict of laws but also advantageous for the growth of international law and international economic law. It is further suggested that such multiplicity in local laws is detrimental to and affecting to the stability, creditability, and the superiority of the law.[161]

Further Professor Stephan advocated harmonization because it actualized a decline of 'legal risk'.[162] For instance, the transporter of goods may cease in one country, the parties are in possession of goods in another country, and disputes may be resolved in any number of courts giving them opportunity to shop the best suited forum.[163] It is recommended: "Knowing that this divergence exists, parties may act opportunistically, such as by claiming a default and filing suit in a jurisdiction known for its eccentric rules and practices".[164] The conflict of laws provide the parties an opportunity to file their suit in the place where they can get more favourable judgment and thus diverse laws encourage form shopping. Moreover minimizing legal risk followed by the transactions value.[165] The parties need to be aware of only two laws: international commercial law and their domestic law rather than understanding every country's law to which they transacted. Further, when divergences in national commercial laws are impediments, harmonization comes into operation as it can create an "interface" that assists parties from diverse jurisdictions.[166] The advantages of such harmonization are better illustrated by the divergence in railroad track gauge between the rest of continental Europe and the Iberian Peninsula (Spain and Portugal).[167] Passengers on most train from France to Spain must get on at the border and change to a Spanish train that cannot run on other European train tracks.[168]

However, it is argued that so long as the national are dispositive, there is no requirement of uniformity.[169] As the disparity in dispositive rules can straightforwardly be eradicated by inserting contractual provisions which articulates accepted set of responsibilities pertinent in all significant jurisdictions.[170] Also, national Laws are originated on diverse procedure expectations and there is no motivation to generate global commercial law except they sturdily hamper international business.[171]

Additionally, investigations done by Professor Doreen McBarnet proclaims that experts favoured diversity, since it grants them preference together with the qualification to accomplish their principal intention, that is to procure the best legal system for their clients.[172] Similar viewpoint is taken b Bridge that harmonization restrains forum shopping.[173]

3.2.2 Reduction of transactional Costs

Harmonization is advocated as it reduces the difficulties and expenses connected with entering into international business transactions without being familiar with the laws and regulations applicable to the 'foreign tier' of any such transaction.[174] In other words, harmonization reduces transactional cost and brings certainty in laws.[175] Transaction costs are incurred in 'drafting and negotiating contracts', costs caused due to cultural differences and communication failures, information costs, costs incurred in seeking knowledge on legal procedures, and so on.[176] This stand is supported by Professor Walt, "Diverse national laws create legal costs of determining and complying with the laws of multiple jurisdictions".[177] Thus, harmonization promotes efficiency by reducing transactional costs.

According to Miller, transaction costs can be minimized by harmonization as the parties to international business transactions might have a rather better wisdom as compared they do in a diverse national system.[178] However, it is argued that this problem can better be solved by incorporation of the jurisdiction and law clause in the contract rather than harmonization process.[179]

Further, Professor Fox has succinctly stated: "Disharmonies of law and procedure are costly and bothersome. As the world becomes increasingly interdependent the costs of different rules of law and different procedures that apply to the same transaction mount".[180] I f the same merger, for example, is subject to the different law and procedures of five or ten nations and if compliance procedures are complex, transactions costs can be very high. Because of some transactions that would have taken place will not take place.[181]

Professor Goode also adhere this view by holding that harmonization substitutes a single law for a proliferation of national laws and therefore, it 'saves time and expense'.[182] Moreover Leebron posits that harmonization reduces "the costs of international transactions in many cases by achieving economies of scale for all such transactions".[183] In other words, reduction of such costs brings certainty in laws. For instance, a trader intending to export goods probably affronts a diverse transactional legal system for every nation to which goods are exported.[184] While the parties to the transactions will be familiarized to diverse legal system, transacting will be especially expensive.[185] The implementation of standardized contractual laws, however, for all such dealings means the trader need be accustomed with only two system: the national legal system and the international system.[186] Additionally, according to Oppong, "Harmonization also boosts certainty in the law, thus reducing transaction and litigation costs for economic actors within the Community".[187]

In 2001, the Organization for Economic Cooperation and Development (OECD) [188] reviewed the existing studies on the costs associated with international trade transactions, for instance, trade insurance, cross-border payments, and so on. The OECD paper revealed that such costs hampered international commerce, especially in less developed countries.[189]

3.3 Arguments against Harmonization

"Uniformity in law is a mixed blessing and not an unqualified good".[190] However, harmonization of laws proved to be advantageous, there are several other factors that may point against harmonization.[191] In other words, harmonization is not preferred by various benevolent scholars as it is not apparent whether harmonization is the most excellent resolution to the fundamental quandary.[192] Recently, there has been a critic that argued that many of the instruments of harmonization accomplishments were superfluous, and is unfavourable to international commerce.[193]

Fox bespeaks that there are three reasons that argue against harmonization.[194] Firstly, diversity has its their own virtues.[195] Secondly, capitalist or developed countries are probable to have the supremacy to manoeuvre harmonization to accomplish their goals.[196] However, this obscurity can be surmount by reciprocal admiration and consideration to contradictory viewpoints and by ensuring that government of less- developed nations are integrated in drafting committees.[197] Third aspect is 'feasibility and practicability' of agreeing all the nations on one right law.[198]

While, according to David, there are three obstacles which jeopardize the realization of harmonization process. Firstly, the divergence of views as to what is just, moral, and in the interest of society. Secondly, the varying techniques employed for expounding rules of law. Lastly, "the principle difficulty hindering projects for international unification of the law consists of routine and of the prejudice of those who would have to be convinced before a new order can be constructed".

3.3.1 The Benefits of Diversity

A number of eminent scholars assert that diversity has its own bereft of value. Harmonization and unification of laws destabilize improvement and significance of national legal regime.[199] According to Goode, "existing domestic law is better or, if not better, is at least well known and understood".[200] Similarly, it is argued that instead of ameliorating national legal regime harmonization cripples the progress of effective legal regime.[201] Several scholars argue that the internal law is qualitatively supreme to transnational commercial law. For instance, according to Goode, "there are those who consider that the English law in all its majesty is greatly superior to anything that could be devised at international level".[202] It is argued that International instruments are 'generally so verbose, obscure, and generally badly drafted'.[203] However, this condemnation is unwarranted in the light of recently adopted treaties.[204] For instance, the recently adopted conventions on International Interests in Mobile Equipment, and the Hague Convention on Security Interests illustrate the tremendous 'high quality of drafting'.[205]

3.3.2 Constrained Interpretation by Domestic Courts

The eloquent exposition by Professor Wigore reveals the monotonous argument against harmonization: "it is not worth the effort to harmonize commercial law as any harmony that may have been crafted by the instrument is fleeting due to the possibility of divergent interpretations adopted by different courts".[206] In other words, on several instances courts of various countries have taken divergent viewpoint concerning the international commercial law. Thus hampers the main objective of bringing harmonization, namely, uniformity. It is worthy to present observation by Viscount Simonds in Scruttons Ltd. v. Midland Silicones Ltd.[207] "It would be deplorable if the nations should, after protracted negotiations, reach agreement […] and that their several courts should then disagree as to the meaning of what they appeared to agree upon". The eminent Professor Wigmore also supported this line of reasoning.[208] However, the rationale behind this misinterpretation is 'not to deliberate differences of conviction, but to inadvertence and to lack of a mutual understanding'.[209] Bridge also supports this point.[210]

Similarly, it is asserted that domestic courts are reluctant to implement a globally oriented view towards the construction of international treaties and have acquiesced them great deference.[211] For instance, English Courts were conventionally incapable to confer with the travaux prepatatoires [212] in interpreting conventions.[213] As Lord Diplock stated in Fothergill v. Monarch Airlines Ltd,[214] "The language of an international convention has not been chosen by an English parliamentary draftsman......It is addressed to a much wider and more varied judicial audience than is an act of parliament that deals with purely domestic law". Lord Wilberforce put it in James Buchanan & Co. Ltd. V. Babco Forward and Shipping (UK) Ltd.,[215] held that it should be adopted as 'unconstrained by technical rules of English law or by English legal precedent, but on broad principles of general acceptation'.

The United States courts have also recognized this rule in several cases.[216] In El Al Israel Airlines v. Tsui Yuan Tseng [217] it was held that that to allow recourse to national law would undermine the uniform law that the Convention was designed to foster. It sent a clear signal that it would adopt an international approach to construing the convention. The Brussels Convention for the Unification of Certain Rules of Law Relating to Bills of Lading, commonly known as the Hague Rules, provides an excellent example of this process. According to Sturley, there are so many topics in Hague Rules on which there exist clear conflicts in the interpretation.[218] For instance, article 4 (2) (c) excuses the carrier from liability for damages caused by a "peril of the sea".

CHAPTER 4: Vehicles of Harmonization of International Commercial Law

4.1 General Framework

There are many specialists international or supranational organizations are involved in harmonization process.[219] For instance, the United Nations Conference on Trade and Development (UNCTAD).[220]UNCTAD was established in 1964 and currently has 193 Member countries including United Kingdom.[221] The most distinguish feature of UNCTAD is that it interacts and cooperate with a variety of other organizations in order to develop trade, for instance, The World Trade Organization (WTO).[222] Another international organization is the United Nations Education, Scientific and Cultural Organization (UNESCO), founded on November 16, 1945.[223] Its main aim 'is to contribute to peace and security by promoting collaboration among the nations through education, science and culture'.[224] By 2011, there 195 Member countries to this Organization, including United Kingdom.[225] Additionally, there are various regional organizational that are involved in harmonizing commercial laws, notwithstanding the fact that their primary task is dealt with other activities. For instance, the International Civil Aviation Organization (ICAO) that was established in 1944.[226] Though it is established 'to promote the safe and orderly development of international civil aviation throughout the world',[227] it produces 'most widely accepted'[228] convention: the Convention for the Unification of Certain Rules for International Carriage by Air (Warsaw Convention),[229] which is amended in 1999 (Montreal Convention).[230] This Convention 'applies to all international carriage of persons, baggage or cargo performed by aircraft for reward'.[231]

However, there are only four international organizations described below are specialized in harmonizing international commercial transactions: Hague Conference, UNIDROIT, and UNCITRAL, and ICC. The first three Instruments are recognized as "the three sisters".[232]

4.2 The Hague Conference on Private International Law

The mandate of Hague Conference is to work for the progressive unification of the rules of private international law".[233] In order to achieve this goal, first meetings were held in 1893 with the objective to elaborate international conventions.[234] However, only European nations had received invitations, the government of the United Kingdom decided not to participate; it felt that the legal institutions of England differed too widely from those of Continental Europe.[235] In October 1951 the Conference gave itself a permanent character and a charter.[236] In 1955, it was given international legal personality under public international law by a Statute elaborated by sixteen States which were all European except for Japan.[237] As regard membership, the desired collaboration with the Council of Europe made an extension of the membership to states members of the Council.[238] However, this Statute was amended on 30 June 2005, which came into force on 1 January 2007.[239] It is noteworthy to mention here that under amended Statute membership is not restricted to European nations.[240] Also, membership extends to Regional Economic Integration, for instance, the European Union as a whole.[241] The Organization currently has seventy one States Members and one Regional Economic Integration.[242]

4.3 UNIDROIT

The International Institute for the Unification of Private Law (UNIDROIT) is an autonomous intergovernmental Organization that was set up in 1926 at Rome.[243] The credit for establishing UNIDROIT went to eminent European scholar, Ernst Rabel, who first initiated the effort for adopting a uniform law pertaining to international sales.[244] It is an auxiliary organ of the League of Nations.[245] Subsequent to the downfall of the League of Nations, UNIDROIT was re-established in 1940 on the basis of a multilateral agreement acknowledged as the UNIDROIT Statute. UNIDROIT's existing sixty three member States, including UK and India, are drawn from the five continents. UNIDROIT'S main task is 'to examine methods for the harmonization and coordination of the private law of states and groups of states and to prepare for the progressive application of uniform private law'. UNIDROIT worked diligently to draft uniform conventions [246] and model legislation for the purpose of obtaining universal codification of selected substantive and procedural laws in areas where uniformity was essential.[247] In the United Kingdom, a scholar of standing, Professor Goode posits that the most visibly distinguished feature of the UNIDROIT working method is 'the use of study groups' which assisted in drafting international instruments.[248]

Since its establishment, UNIDROIT has prepared several conventions, for instance, Convention relating to a Uniform Law on the Formation of Contracts for the International Sale of Goods (ULFIS) and Convention relating to a Uniform Law on the International Sale of Goods (ULIS).[249] These two Conventions are adopted in 1964 at Hague and well-known as Hague Conventions on International Sales Law.[250] However, Hague Conventions were adopted with a view to achieve of a worldwide unification of substantive law governing the international sale of goods. Though, this attempt was failed "due to the biased and isolated drafting process in which only the countries of Western Europe participated".[251] UNIDROIT's work has also served as the basis for a number of international instruments adopted under the auspices of other international Organisations. At this juncture, it is noteworthy to mention, the adoption of United Nations Convention on Contracts for the International Sale of Goods drafted by UNCITRAL).[252]

4.4 UNCITRAL

As previously mentioned, after the failure of the Hague Conventions it is indispensable to establish a worldwide representative body. Consequently, in 1966 a resolution by the United Nations General Assembly established the United Nations Commission on International Trade Law (UNCITRAL).[253] UNCITRAL original membership comprised 29 States [254] and was extended in 2002 to 60 States.[255] UNCITRAL was intended to harmonization and unification of rules on transnational commercial by promoting and preparing the use and adoption of legislative and non-legislative instruments in a number of key areas of business law [256] for example, international contract practices, and procurement and sale of goods.[257] Main Legislative methods include: conventions, model laws, and Case Law on UNCITRAL texts (CLOUT). Till date UNCITRAL has prepared several conventions,[258] such as the Convention on the Limitation Period in the International Sale of Goods (1974). However, the most successful convention is the United Convention on Contract for the International Sale of Goods (1980). The UNCITRAL Model law on International Commercial Arbitration (1985) was the first model law adopted by UNCITRAL and was described as a procedural instrument.[259] It provides a discrete set of interdependent articles and was followed by various other model laws.[260] Several countries have adopted the model law by incorporating it into their national law. For instance, India had incorporated Arbitration and Conciliation Act, 1996.[261]

A system is established for collecting and disseminating information on court decisions relating to the Conventions and Model Laws, which is well-recognized as CLOUT (Case Law on UNCITRAL Texts).[262] The Purpose of CLOUT "is to facilitate uniform interpretation and application of those texts".[263] Besides, legislative methods, there are also contractual techniques by which harmonization can be brought in international business. While drafting international contracts, parties can insert uniform or standard set of clauses in which all the relevant issues can be addressed.[264] Best illustrations of such globally standard rules are the UNCITRAL Arbitration Rules (1976) [265]and the UNCITRAL Conciliation Rules (1980) [266] Latter provides 'a comprehensive set of procedural rules upon which parties may agree for the conduct of conciliation proceedings arising out of their commercial relationship'.[267] It applies 'to conciliation of disputes arising out of or relating to a contractual or other legal relationship'.[268]

UNCITRAL undertakes a range of technical assistance activities to promote its work. Such activities include: organizing briefing missions and seminars and participating in conferences to familiarize participants with UNCITRAL texts; undertaking law reform assessments to assist governments of developing countries; and assisting international developed agencies, such as the World Bank.[269] Recently, UNCITRAL role to maintain close links with international and regional organizations (non-government and inter-governmental), that are active participants in the work programme of UNCITRAL and in the field of international trade law, has been emphasized.[270] For instance, the United Nations Conference on Trade and Development (UNCTAD).

4.5 The International Chamber of Commerce

The International Chamber of Commerce (ICC) [271] is the 'voice of international businesses and was founded in 1919 with the aim 'to serve world business by promoting trade and investment, open markets for goods and services, and the free flow of capital'.[272] The seat of ICC has been located in Paris.[273] At the moment it groups hundreds of thousands of member companies and associations in over 120 countries.[274] It has produced numerous standard rules that are given effect by incorporation into sales contracts.[275] In 1933 ICC published first uniform rules, which were revised in 1951, 1962, 1974, 1983 and 1993 respectively.[276] The Uniform Customs and Practice for Documentary Credits (UCP 600) are the most recent version of the rules accepted by ICC Commission on 25 October 2006, which govern letter of credit transactions internationally.[277] An eminent scholar, Professor Goode describes it is the remarkable momentum in bringing harmonisation in transnational commercial law.[278]Another internationally recognized rule promulgated by ICC is Incoterms, which 'provided internationally accepted definitions and rules of interpretation for most common commercial terms'.[279] Initiated in 1936 that continues at present with Incoterms 2010, which comes into effect on 1 January 2011.[280] The results of such contractual incorporation is that it brings harmonization of contractual duties and obligations.

CHAPTER 5: VIENNA CONVENTION ON INTERNATIONAL SALES CONTRACT

5.1 Historical Background and Factual Preview of the CISG [281]

The United Nation Convention on Contracts for the International Sale of Goods was signed in Vienna in 1980 [282] and it took 12 years in drafting and signing the CISG. It came into force as a multilateral convention on 1 January 1988, after being ratified by eleven countries, for instance, United States of America and France. By 2010, it has been ratified by 77 countries from all around the world. Benin is the most recent state to have ratified the Convention. However, several major trading countries have not ratified the CISG including United Kingdom, India, and Brazil. The CISG has been described as a 'great legislative achievement',[283] 'most successful international document',[284] "One size fits all"[285] and "significant tool in international trade"[286]

It built upon twin predecessor that were signed at The Hague in 1964:[287] ULIS and ULFIS. According to professor Goode there are three drawbacks of the Hague Conventions that laid down the fruitful foundation for the CISG. As previously mentioned that the participation of the Hague Conventions are limited to the industrialized countries and adopted by the socialist and developing countries rarely. Secondly, only nine countries including the United Kingdom have ratified the Hague Conventions. Thus the lack of consensus by the Countries had given the drafters of the CISG a good lesson that is evident from the numbers of CISG's ratification. Lastly, Hague Conventions itself suffered from a number of procedural illnesses. While the CISG reduces transactional costs incurred in sales contract. For instance, its text 'will be more accessible to both parties and over time the accretion of case and commentary will provide more certainly'.[288]

The CISG represents the most successful attempt to unify international trade laws.[289] It creates a uniform law for the sales contract on international arena [290] that is evident from in its Preamble that stated:

"[t]he adoption of uniform rules which govern contracts for the international sale of goods".

Further, it also simplifies global trade transactions as envisaged in the beautiful words of the Preamble:

"contribute to the removal of legal barriers in international trade and promote the development of international trade".

5.2 Successes of the CISG

The crucial function of an international trade law is to grant a standardized law to apply to the business persons.[291] In this way, "the Convention is acclaimed as the world's first potentially successful step towards uniform international trade law".[292] The strength of the Convention can be summed from the two relevant postulations. Firstly, the wide acceptance of the CISG by the global world is indeed the most successful strength of the Convention.[293] At present there are seventy seven countries that are parties to the CISG including the United States, China, Singapore, Japan and Australia. Most European countries, for instance, Italy, France and Hungry have ratified the CISG not including three countries: Ireland, Portugal and United Kingdom. Furthermore, it is also entered into force in several South American States, for instance, Egypt, Columbia and Argentina. On the other hand, the roles of African countries are more limited including Liberia, Zambia and Ghana. It is supported that in the near future it will 'become the law applicable to the majority of all contracts for the international sale of goods'.[294] Such a vast acceptance of the CISG suggests that the Member States have agreed to bring uniformity in sales laws.

Secondly the CISG plays a 'role model' in the establishment of several business organizations, for instance, the Organization for the Harmonization of Business Law in Africa (OHADA) that has currently sixteen African Member States. Further, the UNIDROIT Principles of International Commercial Contracts 2010 (PICC) [295] closely followed the CISG pattern.[296] For instance, section 2.1.2 of the UNIDROIT Principles of International Commercial Contracts 2010 (PICC) defined the expression 'offer' in the same pattern as defined under article 14 (1) of the CISG. Also, the definition of the effectiveness of the offer defined under section 2.1.3 of the PICC also brought the definition from article 15 (1) of the CISG. It is noteworthy to mention European Council (EC) Directives on certain aspects of the sale of consumer goods and associated guarantees [297] (1999) that was also greatly inspired by the CISG. The reflection can be found in article 2 that examines the conformity aspect of the contract. It is suggested that this provision derived its authority from the article 35 of the CISG.[298]

On the other hand, the CISG is not only a welcome effort of unification of sales law on international arena but also proved to be fruitful effort 'for domestic legislators'.[299] Several countries have enacted their sale of goods act that profoundly depend the CISG.[300] For instance, section 87 of the Norwegian Sale of Goods Act 1988 [301] defines 'international sale' in the similar manner as it is defined under article 1 of the CISG.[302] Furthermore, the Contract Law of the People's Republic of China (1999) [303] also followed the path of the CISG in defining several legal key impressions. For instance, article 16 of this legislation that defines the effectiveness of the contract took its definition from article 15 of the CISG.

5.3 Criticism of the CISG

The most common criticism of the Convention is that it failed to define many important legal expressions referred in the CISG.[304] For instance, 'offer', 'sale', 'goods', 'good faith' and so on. It is also argued that it defined a number of terms that created difficulties for transnational solicitors. For example, the CISG defined the term "sufficient definite"[305] that creates a trouble for the American lawyers. Under Uniform Civil Code (U. C. C.) sufficient definiteness is required to permit a court to grant an appropriate remedy.[306] Contrary under the CISG, a proposal is sufficient if it indicates express or implied provisions. Further it is commonly argued that the Convention is limited in scope [307] as it is only applied to the community that is engaged in the international sale of goods and exclude sales 'of goods for 'personal, family, or household use'.[308] However the most severe justification against the CISG lies in its one of the important provision: article 7.

Although, article 7 of the CISG has claimed to be the most important provision of the CISG [309] it is perceived by several eminent scholars as a most difficult provision of the CISG.[310] It is suggested to analysis the provision rather than proceeding to the clarifications put forward by these scholars. Article 7 (1) stated:

"In the interpretation of this Convention, regard is to be had to its international character and to the need to promote uniformity in its application and the observance of good faith in international trade".[311]

Thus in simpler stipulations, it laid down three principles on which the interpretation of the CISG is appreciated. The first principle states that the CISG is interpreted in conjunction with its international character that means autonomous from the set of rules governing domestic laws.[312] However, different authors have different meaning for 'autonomous' expression. At this point one may be reminded of Professor Goode who claimed that this was an elusive concept.[313] However, in a proper sense it may be defined as that interpretation of the convention should be based on some systematic and teleological considerations.[314] The severity of the problem, however, do not spills over into its divergent meaning rather it lies on one of the important unanswered question: By which authority such well defined principles are applied? As there is no international business court to deliver judgment on the CISG's interpretation, it is often found that domestic court interpret its provision by domestic law that discard the objective on which CISG is based: uniformity and harmonization of international sales laws.[315] It is further argued that the drafters of the CISG laid down the principles without any further clarifications that are not desired.[316] However it is suggested that no legislation on international and domestic level is perfect in all dimensions.

On the other hand it is suggested that the insertion of the expression 'international character' is an exhortation to avoid the trap of a homeward tendency in interpretation [317] and to urge the courts to look at what other courts are doing. However, in the real CISG world, however, national courts occasionally slip into a parochial morass, especially when the relevant Convention terminology is reminiscent of their own local law.[318] Moreover, it is argued that there is little evidence to show that the national courts' decisions take into account the solutions adopted on the same point by courts in other countries.[319] By 1997 it would appear that there are only two decisions [320] rendered by national judges in which express reference is made to foreign precedents. However, the reason seems to exist in the assertion, as previously mentioned, that there is a lack 'of a supranational organ capable of ensuring its uniform interpretation'.[321]

The next problem lies in the second principle that lay down that convention is interpreted uniformly by all courts. However, in practical business world it is often not found. This is because of the limited sphere of the application of the Convention.[322] It can be well understood with the support of this illustration that is based on article 2 [323] which posits that the CISG do not apply on 'software goods'. The state 'A' entered into a contract of tiny silicon computer "chips" with state 'B'. Such 'chips' are goods in the domestic law of A but not B. Both the states are non- members of the CISG. In any case if A is found guilty of breach of contract then A is advised 'to hurriedly forum- shop' to another state, for instance 'C' where such chips are goods. In this way, A can be relieved from the liability incurred if the case might bring in its own state. However, if 'C' is a party to the CISG then it applies by default. Thus, in some probability, it encourages forum shopping.

On the other side it is argued that it fails to concentrate on some important aspect of sales contract: carriage of goods by sea. It does not examine the role of electronic documentation and electronic commerce in sales contract that become an important aspect of sales contract in modern time. In order to curb this difficulty, the UNCITRAL had recently adopted a Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea [324] in 2008 that is famous as Rotterdam Rules. Its main purpose is to bring uniformity of laws under carriage contract.

On the basis of this, many commentators argued that it failed to accomplish its task of bringing uniformity and predictability to international sales law.[325] Professor Kastely also supports this line of argument by holding that the CISG 'is deeply political, fundamentally rhetorical: in its aspiration'.[326] At one point international community has agreed to apply the CISG that is evident from the Preamble: "The States Parties to this Convention....have agreed as follows...". On the other side national courts evaluate the provisions of the CISG differently.[327]

5.4 The Stand of the United Kingdom

Surprisingly, UK had actively participated in the development of international sales laws [328] but failed to accede to the "major gap-filling convention" - CISG.[329] UK based its denial to adopt the CISG on a number of standpoints. It was suggested that the UK awaited the reaction of its trading partners, for instance, the United States and Australia.[330] This attitude can be well understood by the exposition of Professor Nicholas: "policy of wait and see".[331] However, it does not mean that UK has not taken any step in ratifying the Convention. The United Kingdom Department of Trade and Industry (DTI),[332] which is predecessor of the United Kingdom Department for Business, Innovation and Skills (BIS),[333] have issued two consultation papers (in 1989 and 1997) [334] on the subject of the UK entering into the Convention. In first Consultation Paper (1989) 1, 500 documents were issued and only 28 were in favour to ratify the convention out of total 55 responses. It was found that few influential organizations included ICI, BP, Shell, and the Commercial Courts Committee were against ratification. Consequently, in 1997, another Consultative Paper was issued that was strongly favoured mostly by the Law Commission of England and Wales and British Gas. Consequently, DTI issued a position paper in February 1999 stating that the Convention should be brought into national law when there is time available in the legislative programme.[335] As at the end of September 2000, the CISG is yet to be ratified but unfortunately, the gentleman who was meant to be brought in as a private member bill was died earlier on this year.[336] On 7th February, 2005 Lord Lester of Herne Hill in the House of Lords sent a question to one of the member of the DTI, Lord Sainsbury of Turville asking the reason why UK have not signed the CISG. Lord Sainsbury replied:

"[t]he UK intends to ratify the convention, subject to the availability of parliamentary time. There have been delays in the past for a number of reasons, but we propose to issue a consultation document in the course of the next few months to examine the available options".[337]

Since then, neither any consultation nor any replacement date has yet been issued and decided respectively.[338] In other words, it can be said that whenever there is time available in the legislative programme the CISG will be ratified in its entirely.[339] Similar justification against ratification has been forwarded by eminent professor Goode:

"Government is not opposed to ratification of the convention; it is simply that it has not been found possible to provide legislative time".[340]

This argument appears to be quite right in the light of the vastly greater volume and complexity of legislation.[341] This exposition was adhered by Moss. According to Moss, Ratification would need legislation and the CISG must take its place in the queue with the Government's many other legislative priorities.[342]

Further it is submitted that there is most definitively a self-perception that English law is a world brand-name [343] as UK has been positioned as the leading centre for the settlement of commercial disputes.[344] In other words, there is a fear that if CISG is adopted then the London Court of International Arbitration would cease to be an attractive jurisdiction for litigation and arbitration.[345] In the colourful words of Moss: "There was a danger that London would lose its edge in international arbitration and litigation".[346]

Other critics posit: 'the superiority of English sales law'.[347] It is argued that there are several provisions of the English Sale of Goods Act (1979) that are much superior as compared to the CISG's provisions. For instance, under article 25 of the CISG, the contract is said to be avoided on the ground of fundamental breach [348] that "….results in such detriment to the other party so as substantially to deprive him of what he is entitled to expect under the contract ….". In other words, every term of the contract becomes an innominate term and the breach of which gives rise to the avoidance of contract. While under English law [349] such certainty is not required.[350]

Further, it is suggested that if the UK government will ratify the convention, there is menace that English lords will apply three well-known English principles of interpretation rather than applying the rule of interpretation that is articulated under article 31 of the Convention on the Law of Treaties (1969) while interpreting the provisions of the CISG.[351] The three recognized principles of statutory interpretation are: literal rule, mischief rule, and golden rule.

However in recent decisions, English judges have migrated to the above mentioned principle and apply the purposive method in interpretation of the international conventions.[352] It is noteworthy to refer here two cases where English courts have departed from the tradition interpretation principles. The first authority is James Buchanan & Co. V. Babco Forwarding & Shipping Ltd,[353] where Lord Wilberforce held that interpretation should not be "unconstrained by technical rules of English law, or by English legal precedent, but on broad principles of general acceptation:

"[t]he assumed and often repeated generalization that English methods are narrow, technical and literal, whereas continental methods are broad, generous and sensible, seems to me insecure at least as regards interpretational conventions".[354]

While in Fothergill v. Monarch Airlines,[355] the House of Lords acknowledged the interpretation rule articulated under article 31 of the Vienna Convention on the Law of Treaties.[356] Moreover, the Law Society of England and Wales argued that there are instances where the convention will apply by default [357] by virtue of the provision of article 1to the UK party, regardless the fact that the UK did not ratify the CISG.[358] The Convention may be applicable when the parties have entered into arbitration agreement.[359] by virtue of article 17 (1) and (2) of the ICC Rules of Arbitration 1998 (ICC Rules) that holds that CISG is the best source for determining the appropriate law and applies the Convention as the expression of general principles and customary rules of international trade.[360]

CHAPTER 6: CONCLUSIONS

Transnational commercial law is that branch of law that enumerates the rights and duties of the parties that are engaged in cross border commercial activities. Such activities can take various forms ranging from the simplest form- trade to the most complicated kind- foreign direct investment. Such set of rules derive their force from various codified and uncodified principles. Uncodified rules consist of customs and usages of merchants that grown since the Middle Ages. While codified rules are promulgated by several international organizations and it is worth taking to mention the United Nations Commission of International Trade Law (UNCITRAL) that contributes to a far extend in the development of international business law.

The business law originated during the eleventh century with the development of the law merchant of lex mercatoria. Although several eminent scholars argued that there did not exist any lex mercatoria, it is submitted that the lex mercatoria was universal in character. The medieval law merchant that developed during this phase tended to lose its transnational flavour and become predominantly national in character during the twentieth century due to globalization, industrialization and the broader concept of the sovereignty. Consequent to this modification or erosion of the said concept there was a "growing recognition of the need for harmonization of principles a rules of commercial law governing international transactions has resulted in the formulation of a wide range of instruments including conventions, model laws and model rules by several intergovernmental and private organizations. For instance, the United Nations Commission on International Trade Law (UNCITRAL) that plays very crucial part in bringing harmonization and unification of business laws. They are designed to reduce various risks inherent in transnational commercial law. It is noteworthy to refer two significant risks where harmonization plays significant role: diminishing the role of conflict of laws and minimising transactional costs and time. However, they also bring with it several key legal issues. Such harmonization process was not brought in almost all the field of the commercial laws; trade and patent.

The best illustration of harmonization in international trade law is the effort of the United Nation in adoption of the break throwing Convention on Contracts for the International Sale of Goods (1980). Although the process of bringing harmonization in sales transactions that is the backbone of international law was started in 1920 by the initiatives of Ernst Rabel it came into full form with the adoption of the Vienna Convention of 1980 that came into force in 1988. This Convention is adopted by the major trading countries, for instance, the United States and Japan. The vast ratification of the convention by the countries acknowledged the fact that harmonization is the greater need of the modern business world. Moreover, the impact of the Convention can be found in other organizations that established after the promulgation of the CISG.

However, as no law is perfect, the CISG also suffers from several pitfalls that paralysed its success to grow. The most severe attack on the success of the CISG is the non- ratification by the United Kingdom. However, UK is party to the two predecessors of the Vienna Convention: Convention relating to a Uniform Law on the Formation of Contracts for the International Sale of Goods (ULFIS) and Convention relating to a Uniform Law on the International Sale of Goods (ULIS). Both these Convention are the attempt of the International Institute for the Unification of Private Law (UNIDROIT) that was established in 1926 and are regarded as the failed attempt due to the lack of ratification by the business communities of international law. However, it is not asserted that the United Kingdom government is not interested to ratify this successful Convention. The UK government has initiated various efforts since 1989; however all the efforts proved to unfruitful. Nevertheless, whenever the UK legislative time is available in the coming sessions, it is suggested that the CISG will be ratified by the United Kingdom.

Another blunt criticism is that the provisions of the CISG are often interpreted different by different national courts and because of this the main objective of the CISG to bring uniformity of business laws is not accomplished. However, the reason for this misinterpretation or constrained interpretation of the provisions of the CISG is the lack of supranational business organization. The establishment of international business court that can laid down various interpretation rules is extremly recommended.


BIBLIOGRAPHY:

Primary Sources

Conventions

Convention relating to a Uniform Law on the Formation of Contracts for the International Sale of Goods (1964)
Convention relating to a Uniform Law on the International Sale of Goods (1964)
Vienna Convention on the Law of Treaties (1969)
United Nations Convention on the Carriage of Goods by Sea (1978)
United Nations Convention on Contracts for the International Sale of Goods (1980)
Convention for the Unification of Certain Rules for International Carriage by Air (1999)
United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea (2008)

Cases

Abnett v. British Airways PLC. Sidhu and Others [1997] 1 All ER 192
Air France v. Saks (1985) 470 U.S. 392
Austro- German Customs Union case (Advisory Opinion) [1931] P. C. I. J. Rep. Ser. A/B, No. 41
Bank of Conway v. Stary (1924) 200 N. W. 505
Bernina Distributors v. Bernina Sewing Machine Co (1981) 646 F. 2d 434 US Court of App. (10th Cir.)
Bunge Corporation v. Tradax SA. [1981] 2 All E.R. 513
Davis v. Johnson [1979] A.C. 264
El Al Israel Airlines v. Tsui Yuan Tseng (1998)525 U.S. 155
Falcoal, Inc. v. Kuruma 660 F. Supp. 1536 (S.D. Tex. 1987)
Fothergill v. Monarch Airlines Ltd [1981] A.C. 251
Gaskin v. Stumm Handel, GMBH 390 f. Supp. 361 (1975) US DC (S.D. N. Y.)
Gatoil Int'l Inc. V. Arkwright- Boston Mfrs. Mut. Marine Ins. Co. p1985] S.C. 1 (HL)
General Motors Overseas Operation v. S.S.S Goettingen, 225 F. Supp. 902 (S.D.N.Y.1964)
In Re Union Carbide Corporation Gas Plant Disaster at Bhopal (1987) 809 F. 2d 195 U.S. C.A. (2d. Cir.)
Island of Palmas case (Netherlands v. U.S.) [1928] 2 R.I. A. A. 829
James Buchanan & Co. Ltd. V. Babco Forward and Shipping (UK) Ltd. [1978] A.C. 141
Kern v. Dynalectron Corp. 577 F. Supp. 1196 (N.D. Tex. 1983)
Spath Holme Limited [2001] 1 All E.R. 196

National Legislations

United Kingdom Sale of Goods Act (1979)
United States Uniform Commercial Code (2001)

Secondary Sources

Textbooks

Ajami, R. A. and Goddard, G. J. International Business: Theory and Practice (2nd ed. M.E. Sharpe, Inc. 2006)
Akseli, O. International Secured Transactions Law: Facilitation of Credit and International Conventions and Instruments (1st ed. Routledge 2011)
Aust, A. Handbook on International Law (2nd ed. Cambridge 2010)
Basedow, J. Private Law in the International Arena- Liber Amicorum Kurt Siehr (1st ed. Kluwer Law International 2000)
Beito, D. T.; Gordon, P.; Tabarrok, A. The Voluntary City: Markets, Communities and Urban Planning (1st ed. Academic Foundation 2006)
Berger, K. P. Private Dispute Resolution in International Business: Negotiation, Mediation, Arbitration (1st ed. Kluwer Law International 2006)
Bewes, W. A. The Romance of the Law Merchant (1st ed. Sweet & Maxwell 1923)
Berman, H. J. Law and Revolution: the Formation of the Western Legal Tradition (1st ed. Harvard University Press 1983)
Bhagwati, J. N. and Hudec, R. E. Fair Trade and Harmonization: Prerequisites for Free Trade? Economic Analysis (1st ed. MIT Press 1996)
Biersteker, T. J. and Weber, C. State Sovereignty as Social Construct (1st ed. Cambridge University Press 1996)
Bliss, P. Of Sovereignty (1st ed. Lawbook Exchange Ltd. 2005)
Bridge, M. The International Sale of Goods: Law and Practice (1st ed. Oxford University Press 1999)
Bronde, T.; Busch, M. L.; Porges, A. The Politics of International Economic Law (1st ed. Cambridge 2011)
Brownlie, I. Principles of Public International Law (7th ed. Oxford 2008)
Carr, I. International Trade Law (4th ed. Routledge 2010)
Casson, L. Ancient Trade and Society (1st ed. Wayne State University Press 1984)
Charlesworth, H. and Chinkin, C. The boundaries of International Law: A Feminist Analysis (1st ed. Manchester University Press 2000)
Cheng, B. General Principles of Law as Applied by International Courts and Tribunals (2nd ed. Cambridge 2006)
Cherunilam, F. International Business: Text and Cases (4th ed. Prentice-Hall of India Pvt. Ltd 2007)
Clive, M. Schmitthoff's Select Essays on International Trade Law (1st ed. Kluwer Academic Publishers 1988)
Cranston, R. and Goode, R. M. Commercial and Consumer law: national and international dimensions (1st ed. Clarendon Press 1993)
Cross, F. B. and Miller, R. L. The Legal Environment of Business: Text and Cases: Ethical, Regulatory, Global, and Corporate Issues (8th ed. South-Western, Division of Thomson Learning 2011)
Cutler, A. C. Private Power and Global Authority: Transnational merchant law in the Global Political Economy (1st ed. Cambridge University Press 2003)
Daniels, J. D. and Radebaugh, L. H. International Business (5th ed. Addison-Wesley 1989)
Davies, I. Textbook on Commercial Law (1st ed. Blackstone Press Ltd. 1992)
Dimatteo, L. A. The Law of International Business Transactions (1st ed. South-Western, Division of Thomson Learning 2002)
Dixon, M.; McCorquodale, R.; Williams, S. Cases & Materials on International Law (5th ed. Oxford 2011)
Dlabay, L. and Scott, J. C. International Business (4th ed. Cengage Learning 2010)
Dore, I. I. Arbitration and Conciliation under the UNCITRAL Rules: A Textual Analysis (1st ed. Kluwer Academic Publishers 1986)
Dratler, J. Licensing of Intellectual Property (12th ed. Law Journal Press 2005)
Elshtain, J. B. Sovereignty: God, State, and Self (1st ed. Basic Books 2008)
Faure, M. and Walt, A. Globalization and Private Law: The Way Forward (1st ed. Edward Elgar Publishing Ltd 2010)
Fawcett, J. J.; Harris, J. M.; Bridge, M. International Sale of Goods in the Conflict of Laws (Oxford Private International Law Series) (1st ed. Oxford University Press 2005)
Felemegas, J. An International Approach to the United Nations Convention on Contracts for the International Sale of Goods (1980) as Uniform Sales Law (1st ed. Cambridge 2007)
Ferrari, F. The Sphere of Application of the Vienna Sales Convention (1st ed. Kluwer Law International 1995)
Fletcher, I. F.; Mistelis, L. A.; Cremona, M. Foundations and Perspectives of International Trade Law (1st ed. Sweet & Maxwell 2001)
Folsom, R.; Gordon, M. W.; Spanogle, J. A. International Business Transactions (6th ed. West Group 2000)
Froot, K. A. Foreign Direct Investment (National Bureau of Economic Research Project Reports) (University of Chicago Press 1993)
Goldhirsch, L. B. The Warsaw Convention Annotated: A Legal Handbook (2nd ed. Kluwer Law International 2000)
Goode, R. Commercial Law (3rd ed. Penguin Books 2004)
Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007)
Goode, R. M. Commercial Law in the Next Millennium (Hamlyn Lecture Series) 49 (Sweet and Maxwell 1998)
Goode, R. M. and Cranston, R. Making commercial law: essays in honour of Roy Goode Making commercial law: essays in honour of Roy Goode (Clarendon Press, 1997)
Gutteridge, H.C. Comparative Law: An Introduction to the Comparative method of Legal Study (2nd ed. Cambridge 1949)
Guzman, A.T. and Sykes, A. O. Research Handbook in International Law: Research Handbook in International Economic Law (1st ed. Edward Elgar Publishing Ltd. 2007)
Harris, D. Cases and Materials on International Law (7th ed. Sweet & Maxwell 2010)
Harrison, A.; Dalkiran, E.; Elsey, E. International Business (1st ed. Oxford 2000)
Henkin, L. International Law: Politics and Values (Developments in International Law) (1st ed. Kluwer Academic Publishers 1995)
Hinsley, F. H. Sovereignty (2nd ed. Cambridge University Press 1986)
Honnold, J. O. and Flechtner, H. M. Uniform Law for International Sales under the 1980 United Nations Convention (4th ed. Kluwer Law International 2009)
Hotckiss, C. International Law for Business (1st ed. McGraw-Hill, Inc 1994)
Iyer, R. and Cheng, L. C. MBA Fundamentals International Business (1st ed. Kaplan 2009)
Jackson, J. H. The World Trading System: Law and Policy of International Economic Relations (2nd ed. MIT Press 1997)
Johnson, D. and Turner, C. International Business: Themes and Issues in the Modern Global Economy (2nd ed. Routledge 2010)
Koul, A. K. The legal Framework of UNCTAD in World Trade (1st ed. Kluwer Academic Publishers 1977)
Krasner, S. D. Sovereignty: Organized Hypocrisy (1st ed. Princeton University Press 1999)
Kriyawasam, R. International Economic law and The Digital Divide: A New Silk Route? (1st ed. Edward Elgar Publishing Ltd 2008)
Likosky, M. Transnational Legal Process: Globalization and Power Disparities (Law in context) (1st ed. Butterworths 2002)
Lookofsky, J. M. and Bernstein, H. Understanding the CISG: A Compact Guide to the 1980 United Nations (3rd ed. Kluwer Law International 2008)
MacCormick, N. Questioning Sovereignty: Law, State, and Nation in the European Commonwealth (Law, State, and Practical Reason) (1st ed. Oxford University Press 1999)
Malanczuk, P. Akehurst's Modern Introduction to International Law (7th ed. Routledge 1997)
McDonald, F. and Burton, F. International Business (1st ed. Thomson Learning 2002)
Mendelsohn, M. The Guide to Franchising (7th ed. Thomson Learning 2005)
Menipaz, E. and Menipaz, A. International Business: Theory and Practice (1st ed. SAGA Publications 2011)
Miller, L. B.; Smith, M. J. Ideas and Ideals: Essays on Politics in Honour of Stanley Hoffmann (1st ed. Westview Press Inc 1993)
Mitchell, W. An Essay on the Early History of the Law Merchant (1st ed. Cambridge University Press 1904)
Monyo, S. O. The International Business Blueprint (1st ed. Blackwell Published Ltd 1997)
Moosa, I. A. Foreign Direct Investment: Theory, evidence and practice (1st ed. PALGRAVE 2002)
Murray, C. Schmitthoff's Export Trade: The Law and Practice of International Trade (11th ed. Sweet & Maxwell 2007)
Naon, H. A. G. Choice-of-law Problems in International Commercial Arbitration (1st ed. J. C. B. Mohr 1992)
Nicholson, H. The Crusades (1st ed. Greenwood Press 2004)
Nijsen, A.; Hudson, J.; Muller, C; Paridon, K.V.; Thurik, R. Business Regulation and Public Policy: The Costs and Benefits of Compliance (1st ed. Springer 2009)
Oldham, J. English Common Law in the Age of Mansfield (Studies in Legal History) (1st ed. University of North Carolina Press 2004)
Oppenheim, L. and Roxburgh, R. International Law: A Treatise (3rd ed. Lawbook Exchange Ltd 2006)
Patterson, N.; Montanjees, M.; Motala, J.; Cardillo, C. Foreign Direct Investment: Trends, Data Availability, Concepts, and Recording Practices (1st ed. International Monetary Fund 2004)
Philpott, D. Revolutions in Sovereignty: How Ideas Shaped Modern Inter Relations (1st ed. Printceton University Press 2001)
Pluckett, T. F. T. A Concise History of the Common Law (5th ed. The Lawbook Exchange Ltd. 2010)
Quershi, A. S. and Ziegler, A. R. International Economic law (3rd ed. Sweet & Maxwell 2011)
Rabkin, J. Why Sovereignty Matters (1st American Enterprise Institute Press 1998)
Razin, A. and Sadka, E. Foreign Direct Investment: Analysis of Aggregate Flows (1st ed. Princeton University Press 2008)
Reuvid, J. and Sherlock, J. International Trade: An Essential Guide to the Principles and Practice of Export (1st ed. Kogan Page Ltd. 2011)
Robinson, R. D. International Business Management: A Guide to Decision Making (2nd ed. Dryden Press 1978)
Robock, S. H. and Simmonds, K. International Business and Multinational Enterprises (1st ed. Richard D Irwin 1989)
Roger, B. International Encyclopaedia of Laws-Intergovernmental Organizations (Supp 23) 9Kluwer, The Hague, 2005)
Rugman, A. M. The Oxford Handbook of International Business (2nd ed. Oxford University Press 2010)
Rugman, A. M. and Collinson, S. International Business (4th ed. Prentice Hall 2006)
Sassen, S. Losing Control? Sovereignty in an Age of Globalization (1st ed. Columbia University Press 1996)
Savage, N. and Bradgate, R. Business Law (2nd ed. Butterworth & Co Ltd. 1993)
Schachter, O. International law in theory and practice (1st ed. Kluwer Academic Publishers 1991)
Schaffer, R.; Filiberto, A.; Earle, B. International business law and its environment (7th ed. South-Western Cengage Learning 2009)
Schwarzenberger, G. The principles and standards of International Economic Law 117 (A.W. Sijthoff 1966)
Seidl-Hohenveldern, I. International Economic Law (3rd ed. Kluwer Law International 1999)
Sharan, V. International Business: Concepts, Environment and Strategy (3rd ed. Pearson Education 2011)
Shaw, M. N. International Law (6th ed. Cambridge 2008)
Sherman, A. J. Franchising & Licensing: Two Powerful ways to grow your business in any economy (3rd ed. Amacom 2004)
Smith, K. and Taylor, I. The United Nations Conference on Trade and Development (Illustrated ed. Taylor & Francis, 2007)
Taggart and McDermott, M. C. The Essence of International Business (1st ed. Prentice-Hall 1993)
Themmat, P. V. V. The Changing Structure of International Economic Law (1st ed. Kuwer Academic Publishers Group 1981)
Trachtman, J. P. Introduction: The International Economic Revolution (3rd ed. 1995)
Trachtman, J. P. The International Economic Law revolution and the right to regulate (1st ed. Cambridge 2006)
Trackman, L. E. The Law Merchant: The Evolution of Commercial Law (1st ed. Fred B. Rothman and Co. 1983)
Ugochukwu, A. S. J. Sovereignty (1st ed. Xibris 2009)
Vaghefi, M. R.; Paulson, S. K.; Tomlinson, W. H. International Business: Theory and Practice (1st ed. Taylor & Francis Ltd 1991)
Wall, S.; Minocha, S.; Rees, B. (3rd ed. Prentice Hall 2010)
Weinrip, E. J. The Idea of Private Law (1st ed. Harvard University Press 1995)
White, G. M. International Economic Law and Developing States: Some Aspects (1st ed. British Institute of International and Comparative Law 1988)
Zeller, B. CISG and the Unification of International Trade Law (1st ed. Routledge-Cavendish 2006)
Ziegel, J. S. and Lerner, S. New Developments in International Commercial and Consumer Law (1st ed. Hart Publishing 1998)
Cranston, R. Making Commercial Law: Essays in Honour of Roy Goode (1st ed. Clarendon Press 1997)

Journal articles

Akinsanya, A. 'International Protection of Direct Foreign Investments in the Third World' (1987) 36 (1) ICLQ 58
Amato, P. 'U. N. Convention on Contracts for the International Sale of Goods- The Open Price Term and Uniform Application: An Early Interpretation by the Hungarian Courts' (1993- 1994) 13 J. L. & Com. 1
Ancel, M. 'From the Unification of Law to Its Harmonization' (1976-1977) 51 (1) Tul. L. Rev. 108
Andersen, C.B. 'The Uniform International Sales Law and the Global Jurisconsultorium' (2004-2005) 24 (2) J. L. & Com. 159
Arkins, J. R. C. 'Snow White v. Frost White: The New Cold War in Banking Law?' (2000) 15 (2) J. Int'l Banking L. 30
Arvind, T. T. 'The "Transplant effect" in harmonization' (2010) ICLQ 65
Azzouni, A. 'The Adoption of the 1980 Convention on the International Sale of Goods by the United Kingdom' (2002) available online <http://www.cisg.law.pace.edu/cisg/biblio/azzouni.html#2>
Azzouni, A. 'The Adoption of the 1980 Convention on the International Sale of Goods by the United Kingdom' (2002) available online <http://www.cisg.law.pace.edu/cisg/biblio/azzouni.html#2>
Bailey, J. E. 'Facing the Truth: Seeing the Convention on Contracts for the International Sale of Goods as an Obstacle to a Uniform Law of International Sales' (1999) 32 (2) Cornell Int'l L. J. 273
Bainbridge, S. 'Trade Usages in International Sales of Goods: An Analysis of the 1964 and 1980 Sales Conventions' (1983- 1984) 24 Va. J. Int'l L. 619
Baker, J. H. 'The Law Merchant and the Common Law Before 1700' (1979) 38 (2) Cambridge L. J. 295
Baldwin, J. 'Recent Progress Towards Agreement on Rules to Prevent a Conflict of Laws' (1903- 1904) 17 (6) Harv. L. Rev. 400
Bamodu, G. 'Extra-national legal principles in the global village: a conceptual examination of transnational law' (2001) I. Arb. L. Rev. 6
Bane, C. A. 'From Holt and Mansfield to Story to Llewellyn and Mentschikoff: The Progressive Development of Commercial Law' (1982-1983) 37 (3) Miami L. Rev. 351
Barnes, W. R. 'Contemplating a Civil Law Paradigm for a Future International Commercial Code' (2004-2005) 65 (2) La. L. Rev. 677
Batra, J. C. 'Modernization of the Warsaw System- Montreal 1999' (1999-2000) 65 (3) J. Air L. & Com. 429
Baughen, S. 'Expropriation and Environmental Regulation: the Lessons of NAFTA Chapter Eleven' (2006) 18 (2) J. Env. L. 207
Baxter, I. 'International Conflict of Laws and International Business' (1985) 34 ICLQ 538
Bayraktaroglu, G. 'Harmonization of Private International Law at Different Levels: Communitarization v. International Harmonization' (2003) 5 (1/2) Eur. J. L. Reform 127
Beaumont, K. M. 'Need for Revision and Amplification of the Warsaw Convention' (1949) 16 (4) J. Air L. & Com. 395
Bell, K. 'The Sphere of Application of the Vienna Convention on Contracts for the International Sale of Goods' (1996) 8 (1) Pace Int'l L. Rev. 237
Benson, B. L. 'The Spontaneous Evolution of Commercial Law' (1989) 55 (3) Southern Econ. J. 644
Berkowitz, D.; Pistor, K.; Richard, J. 'The Transplant Effect' (2003) 51 (1) AJCL 163
Berman, H. J. 'Law of International Commercial Transactions (Lex Mercatoria)' (1987) 2 (2) Emory J. Int'l Disp. Resol. 235
Berman, H.J. and Kaufman, C. 'The Law of International Commercial Transactions (Lex Mercatoria)' (1978) 19 (1) Harv. I. L.J. 221
Bernasconi, C. 'Some Observations from the Hague Conference on Private International Law' (2007) 101 Am. Soc'y Int'l L. Proc. 349
Block- Lieb, S. and Halliday, T. 'Harmonization and Modernization in UNICITRAL's Legislative Guide on Insolvency Law' (2006-2007) 42 (3) Tex. Int'l L.J. 475
Bonell, M. J. 'The CISG European Contract Law and the Development of a World Contract Law' (2008) 54 AJCL 1
Bonell, M. J. and Liguori, F. 'The U. N. Convention on the International Sale of Goods: A Critical Analysis of Current International Case Law- 1997 (Part I)' (1997) 2 ULR 385
Bonell, M. J. 'International Uniform Law in Practice- Or Where the Real Trouble Begins' (1990) 38 AJCL 865
Bonell, M. J. 'The UNIDROIT Principles and Transnational Law' (2000) 5 (2) ULR 199
Bonell, M. J. and Liguori, F. 'The U. N. Convention on the International Sale of Goods: A Critical Analysis of Current International Case Law- 1997 (Part I)' (1997) 2 ULR 385
Bonell, M. 'Unidroit Initiative for the Progressive Codification of International Trade Law' (1978) 27 (2) ICLQ 413
Boodman, M. 'The Myth of Harmonization of Laws' (1991) 39 (4) Am. J. Comp. L. 699
Burdick, F. M. 'What is the Law Merchant?' (1902) 2 (7) Colum. L. Rev. 470
Brand, R.A. 'Introduction: Semantic distinctions in an age of legal convergence' (1996) U. Penn. J. Int'l Eco. L. 17
Bridge, M. G. 'Uniformity and Diversity in the Law of International Sale' (2003) 15 Pace Int'l L. Rev. 55
Bridge, M. 'Uniform and Harmonized Sales Law: Choice of Law Issues' 905 <http://cisgw3.law.pace.edu/cisg/biblio/bridge.pdf>
Byrne, J. E. 'Fundamental Issues in the Unification and Harmonization of Letter of Credit Law' (1991) 37 (1) Loy. L. Rev. 1
Callaghan, J. J. 'U. N. Convention on Contracts for the International Sale of Goods: Examining the Gap- Filled Role of CISG in Two French Decisions' (1994- 1995) 14 J. L. & Com. 183
Carter, A.T. 'Early History of the Law Merchant in England' (1901) 17 (3) LQR 232
Castro, J.O. and Uhlenbruck, K. 'Characteristics of Privatization: Evidence from Developed, Less-Developed, and Former Communist Countries' (1977) 28 (1) J. Int'l Bus. Stu. 123
Charnovitz, S. 'What is international economic law?' (2011) J. Int'l Eco. L. 3
Cheng, B. 'A New Era in the Law of International Carriage by Air: From Warsaw (1929) to Montreal (1999)' (2004) 53 (4) ICLQ 833
Clark, E. 'Valuing Political Risk' (1997) 16 (3) J. Int'l Money and Finance 477
Crawford, J. 'The Criteria for Statehood in International Law' (1976) 48 (1) BYIL 93
Cranston, R. 'Theorizing Transnational Commercial Law' (2006-2007) 42 (3) Tex. Int'l L.J. 597
Cremades, B. M. and Plehn, S. L. 'The New Lex Mercatoria and the Harmonization of the Laws of International Commercial Transactions' (1983-1984) 2 (3) B. U. Int'l L. J. 317
Daniels, R. J. 'Should Provinces Compete? The Case for a Competitive Corporate Law Market' (1991) 36 (1) McGill L. J. 130
David, R. 'The Methods of Unification' (1968) 16 (1/2) AJCL 13
Diedrich, F. 'Maintaining Uniformity in International Law Via Autonomous Interpretation of Software Contracts and the CISG' (1996) 8 Pace Int'l L. Rev. 303
Dietz, J. P. 'Introduction: Development of the UNCITRAL Arbitration Rules' (1979) 27 (2/3) AJCL 449
Donahue, C. 'Medieval and Early Modern Lex Mercatoria: An Attempt at the probation diabolica' (2004) 5 Chi. J. Int'l L. 21
Drahozal, C. R. 'Contracting out of National Law: An Empirical Look at the New Law Merchant' (2004-2005) 80 (2) Notre Dame L. Rev. 523
Droz, G. A. L. and Dyer, A. 'The Hague Conference and the Main Issues of Private International Law for the Eighties' (1981) 3 (1) Nw. J. Int'l & Bus. 155
Duca, L.F. 'Developing Global Transnational Harmonization Procedures for the Twenty First Century: The Accelerating Pace Common and Civil law Convergence' (2006-2007) 42 (3) Tex. Int'l L.J. 625
Dunham, 'New Reasons For Uniformity' (1963) 16 U. Chi. L. Sch. Rec. 3, 26-27
Eawrt, J. S. 'What Is the Law Merchant?'(1903) 3 (3) Colum. L. Rev. 135
Evans, M. Uniform Law: 'A Bridge Too Far?' (1995) 3 (1/2) Tul. J. Int'l & Comp. L. 145
Farnsworth, E. A. 'UNCITRAL- Why? What? How? When?'(1972) 20 (2) Am. J. Comp. L. 314
Farnsworth, E. A. 'Unification and Harmonization of Private Law' (1996) 27 (1) Can. Bus. L. J. 48
Farnsworth, E. A. 'The Vienna Convention: History and Scope' (1984) 18 (1) Int'l L. 17
Ferrari, F. 'Forum Shopping Despite International Uniform Contract Law Conventions' (2002) 51 (3) Int'l & Comp. L.Q. 689
Ferrari, F. 'Uniform Interpretation of the 1980 Uniform Sales Law' (1994-1995) 24 (2) Ga. J. Int'l & Comp. L. 183
Ferrari, J.H. 'Harmonization of Business Law between Australia and New Zealand' (1989) 19 (4) Victoria U. Wellington L. Rev. 435
Ferrari, F. 'The International Sphere of application of the 1988 Ottawa Convention on International Factoring' (1999) 7 IBLJ 895
Ferrari, F. 'Gap- filling and interpretation of the CISG: overview of international case law' (2003) 2 IBLJ 221
Ferrari, F. 'Homeward trend and lex forism in international sales law' (2009) IBLJ 333
Ferrari, F. 'CISG Case Law: A New Challenge for Interpreters' (1997- 1998) 17 J. L. & Comm. 245
Ferrari, F. 'What Sources of Law for Contracts for the International Sale of Goods?' (2005) 25 Int'l Rev. L. & Econ. 314
Fitzpatrick, M. 'The Definition and Assessment of Political Risk in International Business: A Review of the Literature' (1983) 8 (2) Academy of Management R. 249
Flanagan, P.M. 'Demythologising the Law Merchant: the Impropriety of the lex mercatoria as a choice of law' (2004) 15 (9) IC & CLR 297
Flechtner, H. M. 'The Several Texts of the CISG in A Decentralized System: Observations on Translations, Reservations and Other Challenges to the Uniformity Principle in Article 7 (1)' (1997- 1998) 17 J. L. & Comm. 187
Forte, A. 'The United Nations Convention on Contracts for the International Sale of Goods: Reason and Unreason in the United Kingdom' (1996- 1997) 26 U. Bt. L. Rev. 51
Foster, H. D. 'Foundation Myth as Legal formant: The medieval law Merchant and the new Lex Mercatoria' (2005) accessible at http://www.forhistiur.de/zitat/0503Foster.htm>
Fox, E. M. 'Harmonization of Law and procedures in a globalized world: why, what, and how?' (1991-1992) 60 (2) Antitrust L.J. 593
Gabor, F. A. 'Emerging Unification of Conflict of Laws Rules Applicable to the International Sale of Goods: UNCITRAL and the New Hague Conference on Private International Law' (1985-1986) 7 (4) Nw. J. Int'l L. & Bus. 696
Goldstajn, A. 'The New Law Merchant' (1961) J. Bus. L. 12
Gebauer, M. 'Uniform Law, General Principles and Autonomous Interpretation' (2000) 5 (4) Unif. L. Rev. 683
Geiger, U. 'The Case for the harmonization of the securities disclosure rules in the global market' (1997) 2 & 3 Colum. Bus. L. R. 241
George, L. 'Expropriation' (2002) Int'l Energy L. & Tax. Rev. 46
Glenn, H. P. 'Harmony of Laws in the Americas' (2002- 2003) 34 (2) U. Miami Inter-Am. L. Rev. 223
Goldstajn, A. 'The New Law Merchant' (1961) J. Bus. L. 12.
Goode, R. 'Insularity or Leadership? The Role of the United Kingdom in the Harmonisation of Commercial Law' (2001) 50 (4) ICLQ 751
Goode, R. 'Rule, Practice, and Pragmatism in Transnational Commercial law' (2005) 54 (3) ICLQ 539
Goode, R. 'Usages and Its Reception in Transnational Commercial Law' (1997) 46 (1) ICLQ 1
Goode, R. 'Reflections on the Harmonization of Commercial Law' (1991) 9 ULR 54
Goode, R. 'Abstract Payment Undertakings in International Transactions' (1996- 1997) 22 (1) Brook. J. Int'l L. 1
Goode, R. 'The new I. C. C. Uniform Rules for Demand Guarantees' (1992) 2 LMCLQ 190
Gopalan, S. 'Harmonization of Commercial law: Lessons from the Cape Town Convention on International Interests in Mobile Equipment' (2003) 9 (2) L. & Bus. Rev. Am. 255
Gopalan, S. 'Transnational Commercial Law: The Way Forward' (2002-2003) 18 (4) Am.U. Int'l L. R. 803
Gopalan, S. 'The Creation of International Commercial Law: Sovereignty Felled?' (2004) 5 San. Diego Int'l L.J. 267
Gopalan, S. 'New Trends in the Making of International Commercial Law' (2003-2004) 23 (2) J. L. & Com. 117
Gormley, W.P. 'The Development of the Rhodian-Roman Maritime Law to 1681, With Special Emphasis on the Problem of Collision' (1961) 3 (2) Inter-Am. L. Rev. 317
Grems, K. C. 'Punitive Damages under the Warsaw Convention: Revisiting the Drafters' Intent' (1991-1992) 41 (1) Am. U. L. Rev. 141
Hachney, P. 'Is the United Nations Convention on the International Sale of Goods Achieving Uniformity?' (2000- 20001) 61 La. L. Rev. 473
Healy, M. P. 'Legislative Intent and Statutory Interpretation in England and the United States: An Assessment of the Impact of Pepper v. Hart' (19990 35 (2) Stan. J. Int'l L. 231
Held, D. 'Law of States, Law of People: Three Models of Sovereignty' (2002) 8 (1) L. T. 1
Hermann, G. 'The UNCITRAL Arbitration Law: a Good Model of a Model Law' (1998) 3 (1) Unif. L. Rev. 483
Highet, K. 'Enigma of the Lex Mercatoria' (1988-1989) 63 Tul. L. Rev. 613
Hobhouse, J. S. 'International Conventions and Commercial Law: the Pursuit of Uniformity' (1990) 106 LQR 530
Hoellering, M. F. 'The UNCITRAL Model Law on International Commercial Arbitration' (1986) 20 (1) Int'l L. 327
Hofmann, N. 'Interpretation Rules and Good Faith as Obstacles to the UK's Ratification of the CISG and to the Harmonization of Contract Law in Europe' (2010) 22 (1) Pace Int'l L. Rev. 145
Honnold, J. 'Uniform Law for International Sales' (1959) 107 (3) U. Pa. L. Rev. 299
Hurlburt, W. H. 'Symposium: Harmonization of Provincial Legislation in Canada: the Elusive Goal' (1986- 1987) 12 (4) Can. Bus L. J. 387
Jackson, J. H. 'Global Economics and International Economic Law' (1998) 1 (1) J. Int'l Econ. L. 1
Jones, W. C. 'An Enquiry into the history of the Adjudication of Mercantile Disputes in Great Britain and the United States' (1957-1958) 25 (3) U. Chi. L. Rev. 445
Joseph, J. E. 'Contract Formation under the United Nations Convention on Contracts for the International Sale of Goods and the Uniform commercial Code' (1984- 1985) 3 (1) Dick. J. Int'l L. 107
Juenger, F. K. 'American Conflicts Scholarship and the New Law Merchant' (1995) 28 (3) Vand. J. Transnat'l L. 487
Juenger, F. K. 'The Lex Mercatoria and Private International Law' (1999-2000) 60 (4) La. L. Rev. 1133
Kabik, M. 'Through the Looking-Glass: International Trade in the "Wonderland" of the United Nations Convention on Contracts for the International Sale of Goods' (1991-1992) 9 (2) Int'l Tax & Bus. L. 408
Kadens, E. 'Order Within Law, Variety Within Custom: The Character of the Medieval Merchant Law' (2004-2005) 5 (1) Chi. J. Int'l L. 39
Kastely, A. H. 'Unification and Community: A Rhetorical Analysis of the United Nations Sales Convention' (1987- 1988) 8 Nw. J. Int'l L. & Bus. 574
Kaufmann- Kohler, G. 'Soft Law in International Arbitration: Codification and Normatively' (2010) J. Int'l Dispute Settlement 283
Kavanagh, A. 'Pepper v. Hart and Matters of Constitutional Principle' (2005) LQR 68
Kerr, M. 'Modern Trends in Commercial Law and Practice' (1978) 41 (1) MLR 1
Killian, M. 'CISG and Problem with Common Law Jurisdictions' (2001) 10 J. Transnat'l L. & Pol. 217
Kingsbury, B. 'Sovereignty and Inequality' (1998) 9 EJIL 599
Koneru, P. 'The International Interpretation of the UN Convention on Contracts for the International Sale of Goods: An Approach Based on General Principles' (1997) 6 Minn. J. Global Trade 105
Krebs, T. 'Harmonization and How not to do it: Agency in the UNIDROIT Principles of International Commercial Contracts 2004' (2009) LMCLQ 57
Kronke, H. 'The UN Sales Convention, the UNIDROIT Contract Principles and the Way Beyond' (2005- 2006) 25 (1) J. L. & Com. 451
Lando, O. 'The Lex Mercatoria in International Commercial Arbitration' (1985) 34 ICLQ 747
Lando 'The Contribution of Comparative Law to Law Reform by International Organization' (1977) 25 (4) AJCL 641
Lando, O. 'Optional or Mandatory Europeanization of Contract Law' (2000) 1 Euro. Rev. Private L. 59
Lawther, H. P. 'Uniform State Laws' (1939- 1940) 18 (4) Tex. L. Rev. 436
Lee, R. G. 'The UN Convention on Contracts for the International Sale of Goods: OK for the UK?' (1993) J. Bus. L. 131
Leebron, D. A. 'Claims for Harmonization: A Theoretical Framework' (1996) 27 (1) Can. Bus. L.J. 63
Leon, P. M. D. and Eyskens, W. 'The Montreal Convention: Analysis of Some Aspects of the Attempted Modernization and Consolidation of the Warsaw System' (2000- 2001) 66 (3) J. Air L. & Com. 1155
Lipstein, K. 'One Hundred Years of Hague Conferences on Private International Law' (1993) 42 (3) ICLQ 553
Loewe, R. 'The Sphere of Application of the UN Sales Convention' (1998) 10 Pace Int'l L. Rev. 78
Lutz, H. 'The CISG and Common Law Courts: Is There Really a Problem?' (2004) 35 (3) Victoria U. Wellington L. Rev. 711
Lookofsky, L. 'Loose Ends and Contorts in International Sales: Problems in the Harmonization of Private Law Rules' (1991) 39 American Journal of Comparative Law 403
Loquin, E. and Ravillon, L. 'Informal Sources of International Business Law' (2011) Int'l Bus. L. J. 342
Lutz, H. 'The CISG and Common Law Courts: Is There Really a Problem?' (2004) 35 (3) Victoria U. Wellington L. Rev. 711
Mahajan, K. and Sanwal, K. 'The Case for a uniform sales law and CISG in India' (2009) I. C. & Comm. L. Rev. 359
Mann, F.A. 'Uniform Statutes in English Law' (1983) 3 LQR 376
Mancuso, S. 'Trends of the Harmonization of Contract Law in Africa' (2007) 13 (1) Ann. Surv. Int'l & Comp. L. 157
Mancuso, S. 'The Harmonization of Commercial Law in Africa: The project related to telecommunications in the OHADA harmonization process' (2006) 5 (2) J. Int'l Tr. L. Pol. 56
Mankiewicz, R. H. 'Warsaw Convention: The 1971 Protocol of Guatemala City' (1972) 20 (2) AJCL 335
McNerney, M.E. and Esplugues, C. A. 'International Commercial Arbitration: The UNCITRAL Model Law' (1986) 9 B. C. Int'l & Comp. L. Rev. 47
Mendes, E. P. 'The U.N. Sales Convention & U.S.- Canada Transactions: Enticing the World's Largest Trading Bloc to Do Business under a Global Sales Law' (1988) 8 (1) J. L. & Com. 109
Miller, G.P. 'The Legal- Economic Analysis of Comparative Civil Procedure' (1997) 45 (4) AJCL 905
Miller, K.D. 'A Framework for Integrated Risk management in International Business' (1992) 23 (2) J. Bus. Stu. 311
Mistelis, L. A. 'Regulatory Aspects: Globalization, Harmonization, Legal Transplants, and Law Reform- Some Fundamental Observations' (2000) 34 (3) Int'l L. 1055
Moore, L. 'The New Montreal Liability Convention, Major Changes in International Air Law: An End to the Warsaw Convention' (2001) 9 Tul. J. Int'l & Comp. L. 223
Moss, S. 'Why the United Kingdom has not Ratified the CISG' (2005- 2006) 25 J. L. & Com. 483
Munday, R. J. C. 'The Uniform Interpretation of International Conventions' (1978) 27 (2) ICLQ 450
Mustill, M. J. 'The New Lex Mercatoria: The First Twenty-Five Years' (1988) 4 Arb. Int'l 86
Nadelmann, K. H. 'The United States Joins the Hague Conference on Private International Law: A "History" with Comments' (1965) 30 (2) L. & Contemp. Probs. 291
Ndulo, M. 'The Vienna Sales Convention 1980 and the Hague Uniform Laws on International Sale of Goods 1964: A Comparative Analysis' (1989) 38 ICLQ 1
Note, 'The 1980 Convention on Contracts for the International Sale of goods: Will a Homeward Trend Emerge?' (1986) 21 Texas J. Int'l L. 540
Notes, 'Fraud in the Transaction: Enjoining Letters of Credit during the Iranian Revolution' (1980) 93 (5) Harv. L. Rev. 992
Opaluwa, G. 'Effective compensation for expropriation of foreign investment' (2011) 16 (2) Cov. L. J. 1
Oppong, R. F. 'Private International law and the African Economic Community: A Plea for greater attention' (2006) 3 J. S. Afr. L. 497
Oppong, R. F. 'Private international law and the African Economic Community: a plea for greater attention' (2006) ICLQ 911
Orr, G. W. 'The Warsaw Convention' (1945) 31 (2) Virginia L. Rev. 423
Ortiz, J.A. 'The Illegal Expropriation of property in Cuba: A Historical and Legal Analysis of the Takings and a Survey of Restitution Schemes for a Post-Socialist Cuba' (1999-2000) 22 (3) Loy. L. A. Int'l & Comp. L. Rev. 321
Panesar, S. 'Regulating foreign direct investment' (2006) CLJ 35
Paul, J. R. 'The New Movements in International Economic Law' (1994- 1995) 10 (2) Am. U. J. Int'l & Pol'y 607
Picat, M. and Soccio, S. 'Harmonization of European Contract Law: Fiction or Reality?' (2011) IBLJ 371
Pistor, K. 'The Standardization of Law and Its Effect on Developing Economies' (2002) 50 (1) AJCL 97
Posner, E. A. 'Arbitration and the Harmonization of International Commercial Law: A Defense of Mitsubishi' (1998-1999) 39 (3) Va. J. Int'l L. 647
Pound, R. 'Unification of Law' (1934) 20 A.B.A.J. 695
Rabel, E. 'Hague Conference on the Unification of Sale Law' (1952) 1 (1 & 2) AJCL 58
Rafat, A. 'Legal Aspects of the Cuban Expropriation of American-owned Property' (1966-1967) 11 (1) St. Louis U. L. J. 45
Ramage, S. 'Statutory Interpretation in English Law Today' (2011) 202 Crim. L. 1
Ramamurti, R. 'Why are Developing Countries Privatizing?' (1992) 23 (2) J. Bus. Stu. 225
Reese, W. L. M. 'The Hague Conference on Private International Law: Some Observations' (1985) 19 (3) Int'l L. 881
Reinhart, G. 'Development of a Law for the International Sales of Goods' (1983- 1984) 14 Cumb. L. Rev. 89
Robock, S. H. 'Political Risk: Identification and Assessment' (1971) 6 (4) Col. J. World Bus. 6
Rodrigues, T. P. 'International Regulation of Interests in Aircraft: The Brazilian Reality and the Unidroit Proposal' (1999-2000) 65 (2) J. Air. L. & Com. 279
Rogowska, A. 'CISG in UK: How does the CISG govern the contractual relations of English Businessmen?' (2007) Int'l Com. & Comm. L. Rev. 226
Schwenzer, I. and Hachem, P. 'The CISG- Successes and Pitfalls' (2009) 57 (2) AJCL 457
Rosen, M. D. Do 'Codification and Private International law Leave Room for a New Law Merchant?' (2004-2005) 5 (1) Chi. J. Int'l L 83
Rosett, A. 'Special Reflection on the United Nations Convention on Contracts for the International Sale of Goods' (1984) 45 Ohio St. L. J. 265
Rosett, A. 'Unification, Harmonization, Restatement, Codification, and Reform in International Commercial Law' (1992) 40 (3) AJCL 683
Rubin, E. L. 'Learning from Lord Mansfield: Toward a Transferability Law For Modern Commercial Practice' (1994-1995) 31 (3) Idaho L. Rev. 775
Runyan, T. J. 'The Rolls OF Oleron and the Admiralty Court in Fourteenth Century England' (1975) 19 (2) Am. L. Legal Hist. 95
Ryan, L. M. 'Convention on Contracts for the International Sale of Goods: Divergent Interpretations' (1995-1996) 4 (1) Tul. J. Int'l & Comp. L. 99
Sand, P. H. 'Air Carriers' Limitation of Liability and Air Passengers' Accident Compensation under the Warsaw Convention' (1961-1962) 28 (3) J. Air L. & Com. 260
Sanders, P. 'Procedures and Practices under the UNCITRAL Rules' (1979) 27 (2/3) AJCL 453
Sarre, D. A. G. and Unler, A. 'Modern Oil Law' (1960) J. Bus. L. 161
Scarman, L. 'Ninth Wilfred Fullagar Memorial Lecture: The Common law Judge and the Twentieth Century- Happy Marriage or Irretrievable Breakdown?' (1980- 1981) 7 (1) Monash U. L. Rev. 1
Schmitthoff, C. M. 'The Unification or Harmonisation of Law by means of Standard Contracts and General Conditions' (1968) 17 (3) ICLQ 551
Schwenzer, I. and Hachem, P. 'The CISG- Successes and Pitfalls' (2009) 57 (2) AJCL 457
Sheinfeld, D. I. 'Form Warsaw to Tenerife: A Chronological Analysis of the Liability Limitations Imposed Pursuant to the Warsaw Convention' (1979- 1980) 45 (3) J. Air L. & Com. 653
Sono, K. 'UNCITRAL and the Vienna Sales Convention' (1984) 18 (1) Int'l L. 7
Standifird, S. S. and Marshall, R.S. 'The Transaction Cost Advantage of Guanxi- Bases Business Practices' (2000) 35 (1) J. World Bus. 21
Stephan, P. B. 'The Futility of Unification and Harmonization in International Commercial Law' (1998-1999) 39 (3) Va. J. Int'l L. 743
Sturley, M. F. 'International Uniform Laws in National Courts: The Influence of Domestic Law in Conflicts of Interpretation' (1986-1987) 27 (4) Va. J. Int'l L. 729
Sullivan, G. R. 'The Codification of Air Carrier Liability by International Convention' (1936) 7 (1) J. Air L. 1
Sweet, A. S. 'The New Lex Mercatoria and Transnational Governance' (2006) 13 (5) J. Euro. Public Pol. 627
Thayer, P. W. 'Comparative Law and the Law Merchant' (1936-1937) 6 (2) Brook L. Rev. 139
Thompson, T. W. 'UNCITRAL Arbitration Rules' (1976) 17 (1) Harv. Int'l L. J. 141
Toyne, B. 'International Exchange: A Foundation for Theory Building in International Business' (1989) 26 (1) J. Int'l Bus St. 1
Tunc, A. 'English and Commercial Law' (1961) JBL 234
Trachtman, J. P. 'The Domain of WTO Dispute Resolution' (1999) 40 (2) Harv. Int'l L.J. 333
Trachtman, J. P. 'The International Economic Law revolution' (1996) 17 (1) U. Pa. J. Int'l Econ. L. 33
Trackman, 'The evolution of The Law merchant: Our Commercial Heritage Part 1' (1980- 1981) 12 (1) J. Marit. L. & Com. 1
Trackman, L. E. 'Evolution of the Law merchant: Out Commercial Heritage-Part II: The Modern Law Merchant' (1980-1981) 12 (2) J. Mar. L. & Com. 153
Trimble, R. J. 'The Law Merchant and the Letter of Credit' (1948) 61 (6) Harvard L. Rev. 981
Ulph, J. 'The UCP 600: documentary credits in the 21st century' (2007) 4 JBL 355
Vance, C. and Sassoon, D. M. 'The Container as a Package Controversy: A Comparative Jurisprudential Review' (1981) 16 Eur. Transport L. 315
Vittori, M. 'Enhancing the Participation of Developing Economies in the Multilateral Trade Treaties' Rule-Making and Accession Process: The UNCTAD/WTO ITC Approach' (2006) 11 (1) Unif. L. Rev. 153
Volckart, O. and Mangels, A. 'Are the Roots of the Modern Lex Mercatoria Really Medieval?' (1999) 65 (3) South. Econ. J. 427
Walt, S. 'Novelty and the Risks of Uniform Sales Law' (1998-1999) 39 (3) Va. J. Int'l L. 671
Wigmore, 'The International Assimilation of Law-Its Needs and Its Possibilities From an American Standpoint' (1915- 1916) 10 (6) III. L. Rev. 385
Williams, A. E. 'Forecasting the Potential Impact of the Vienna Sales Convention on International Sales Law in the United Kingdom' available online <http://cisgw3.law.pace.edu/cisg/biblio/williams.html>
Winship, P. 'Domesticating International Commercial Law: Revising U.C.C. Article 2 in Light of the United Nations Sakes Convention' (1991- 1992) 37 (1) Loy. L. Rev. 43
Wool, J. 'Rethinking the Notion of Uniformity in the Drafting of International Commercial Law: a Preliminary Proposal for the Development of a Policy- based Unification Model' (1997) 2 (1) Unif. L. Rev. 46
Wool, J. 'The Case for a Commercial Orientation to the Proposed UNIDROIT Convention as Applied to Aircraft Equipment' (1999- 2000) 31 (1) Law & Pol'y Int'l Bus. 79
Yntema, H. E. 'Unification of the Laws Respecting Negotiable Instruments' (1951) 4 (2) ILQ 178
Zaphiriou, G. A. 'Unification and Harmonization of Law Relating to Global and Regional Trading' (1993-1994) 14 (2) N. III. U. L. Rev. 407
Zamora, S. 'International Economic Law' (1996) 17 (1) U. Pa. J. Int'l Econ. L. 63
Zamora, S. 'NAFTA and the Harmonization of Domestic Legal System: The Side Effects of Trade Law' (1995) 12 (2) Ari. J. Int'l & Comp. L. 401
Zeller, B. 'Development of Uniform Laws- A Historical Perspective' (2002) 14 (1) Pace Int'l L. Rev. 163
Zamora, S. 'Is There Customary International Economic Law?' (1990) 32 GYIL 9
Zimmermann, R. 'Civil Code and Civil Law: The "Europeanization" of Private Law within the European Community and the Re-emergence of a European Legal Science' (1994- 1995) 1 (1) Colum. J. Eur. L. 63
Zylva, A. M. 'Towards a common law: the difficulty of harmonising international construction' (1997) 13 (2) Construction L. J. 107

Websites

<http://www.jus.uio.no/lm/> (last accessed on 8. 1. 2012)
<http://pao.chadwyck.co.uk/> (last accessed on 8. 1. 2012)
<http://www.asil.org/> (last accessed on 8. 1. 2012)
<http://untreaty.un.org/> (last accessed on 8. 1. 2012)
<http://www.un.org/> (last accessed on 8. 1. 2012)
<http://www.oecd.org/> (last accessed on 2. 1. 2012)
<http://www.unctad.org/> (last accessed on 8. 1. 2012)
<http://www.unesco.org/> (last accessed on 1. 1. 2012)
<http://www.icao.int/> (last accessed on 1. 1. 2012)
<http://www.hcch.net/> (last accessed on 1. 1. 2012)
<http://www.letterofcredit.biz/> (last accessed on 8. 1. 2012)
<http://www.iccwbo.org/> (last accessed on 7. 1. 2012)
<http://cisgw3.law.pace.edu/> (last accessed on 8. 1. 2012)
<http://www.unidroit.org/> (last accessed on 6. 1. 2012)
<http://www.bis.gov.uk/> (last accessed on 8. 1. 2012)
<http://www.uncitral.org/> (last accessed on 8. 1. 2012)
<http://www.legislation.gov.uk/> (last accessed on 8. 1. 2012)
<http://www.montrealconvention.org/> (last accessed on 8. 1. 2012)
<http://web.ebscohost.com/> (last accessed on 4. 1. 2012)
<http://heinonline.org/> (last accessed on 8. 1. 2012)
<http://westlaw.co.uk/> (last accessed on 8. 1. 2012)
<http://www.swetswise.com/> (last accessed on 8. 1. 2012)
<http://www.mpepil.com/> (last accessed on 3. 1. 2012)
<http://www.gafta.com/> (last accessed on 1. 1. 2012)


FOOTNOTES

1. Savage, N. And Bradgate, R. Business Law (2nd ed. Butterworth & Co Ltd. 1993), at p. 3.

2. Gopalan, S. 'The Creation of International Commercial Law: Sovereignty Felled?' (2004) 5 San Diego Int'l L. J. 267, at p. 268.

3. Ibid.

4. Available at <http://www.uncitral.org/uncitral/en/uncitral_texts/sale_goods/1980CISG.html>.

5. Vaghefi, M. R.; Paulson, S. K.; Tomlinson, W. H. International Business: Theory and Practice (1st ed. Taylor & Francis Ltd 1991), at p. 3. See also Iyer, R. and Cheng, L. C. MBA Fundamentals International Business (1st ed. Kaplan 2009), at Chap. 1.

6. Robock, S. H. and Simmonds, K. International Business and Multinational Enterprises (1st ed. Richard D Irwin 1989), at p. 1.

7. Daniels, J. D. and Radebaugh, L. H. International Business (5th ed. Addison-Wesley 1989), at p. 6.

8. Toyne, B. International Exchange: A Foundation for Theory Building in International Business (1989) 26 (1) J. Int'l Bus St. 1.

9. Cherunilam, F. International Business: Text and Cases (4th ed. Prentice-Hall of India Pvt. Ltd 2007), at p. 5.

10. Panesar, S. Regulating foreign direct investment (2006) CLJ 35. For further reading see Harrison, A.; Dalkiran, E.; Elsey, E. International Business (1st ed. Oxford 2000), at pp. 13-15 and chap. 12; Dimatteo, L. A. The Law of International Business Transactions (1st ed. South-Western, Division of Thomson Learning 2002), at p.3; Schaffer, R.; Filiberto, A.; Earle, B. International business law and its environment (7th ed. South-Western Cengage Learning 2009), at p. 6 and pp. 19-21; Hotchkiss, C. International Law for Business (1st ed. McGraw-Hill, Inc 1994), at pp.13-14 and 269-275; Moosa, I. A. Foreign Direct Investment: Theory, evidence and practice (1st ed. PALGRAVE 2002), at pp. 1-4; Patterson, N.; Montanjees, M.; Motala, J.; Cardillo, C. Foreign Direct Investment (1st ed. International Monetary Fund 2004), at p. 2; Froot, K. A. Foreign Direct Investment (National Bureau of Economic Research Project Reports) (University of Chicago Press 1993), at pp. 1-12; Razin, A. and Sadka, E. Foreign Direct Investment: Analysis of Aggregate Flows (1st ed. Princeton University Press), chap.2.

11. Panesar, S. 'Regulating foreign direct investment' (2006) CLJ 35, at p. 36. See Hotchkiss, C. International Law for Business (1st ed. McGraw-Hill, Inc 1994), at pp. 256- 257 and chap. 15; Wilkins, M. The History of the Multinational Enterprise in Rugman, A. M. The Oxford Handbook of International Business (2nd ed. Oxford University Press 2010), chap. 1.

12. Dratler, J. Licensing of Intellectual Property (12th ed. Law Journal Press 2005), at p. 2. See Sherman, A.J. Franchising & Licensing: Two Powerful ways to grow your business in any economy (3rd ed. Amacon 2004), at p. 12; Mendelsohn, M. The Guide to Franchising (7th ed. Thomson Learnig 2005), at chap. 3; Hotchkiss, C. International Law for Business (1st ed. McGraw-Hill, Inc 1994), at p. 13 and pp. 260-266; Schaffer, R.; Filiberto, A.; Earle, B. International business law and its environment (7th ed. South-Western Cengage Learnig 2009), at p.14-19; Harrison, A.; Dalkiran, E.; Elsey, E. International Business (1st ed. Oxford 2000), at 15-19.

13. Hotchkiss, C. International Law for Business (1st ed. McGraw-Hill, Inc 1994), at p.25.

14. Schaffer R.; Filiberto, A.; Earle, B. International busines law and its environment (7th ed. South-Western Cengage Learnig 2009), at p. 48.See Hotchkiss, C. International Law for Business (1st ed. McGraw-Hill, Inc 1994), at p.27.

15. Available at <http://www.asil.org/erg/?page=pil>.

16. Available at http://www.uncitral.org/uncitral/en/uncitral_texts/sale_goods/1980CISG.html>.

17. For example: International Labour Organization (ILO), The World Intellectual Property Association (WIPO), The UN Office on Drugs and Crime ( UNODC), UN Commission on International Trade Law (UNCITRAL).

18. Available at <http://www.icj-cij.org/>.

19. Available at <http://www.un.org/en/>.

20. Goode, R. Commercial Law (3rd ed.Penguin Books 2004), at p. 19. See also Davies, I. Textbook on Commercial Law (1st ed. Blackstone Press Ltd. 1992), at p. 3.

21. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 4.; Goode, R. Commercial Law in the Next Millennium (Hamlyn Lecture Series) 49 (Sweet and Maxwell 1998), at p. 88; Lando, O. 'The Lex Mercatoria in International Commercial Arbitration' (1985) 34 ICLQ 747; Goode, R. 'Usage and Its Reception in Transnational Commercial Law' (1997) 46 (1) ICLQ 1, at p. 2; Gopalan, S. 'Transnational Commercial Law: The Way Forward' (2002-2003) 18 (4) AUILR 803, at p. 810; Bonell, M. J. 'The UNIDROIT Principles and Transnational Law' (2000) 5 (2) ULR 199; Bamodu, G. 'Extra-national legal principles in the global village: a conceptual examination of transnational law' (2001) I. Arb. L. Rev. 6, at p. 7. Available at <http://www.asil.org/erg/?page=iel>.

22. Goode, R. Ibid. at p. 4.

23. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 4. See Weinrip, E. J. The Idea of Private Law (1st ed. Harvard University Press 1995), at p. 1.

24. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 4.

25. Ibid.

26. Monyo, S.O. The International Business Blueprint (1st ed. Blackwell Published Ltd 1997), at p. 5; Ajami, R. A. and Goddard, G. J. International Business: Theory and Practice (2nd ed. M.E. Sharpe, Inc. 2006), at p. 4.

27. Zamora, S. 'Is There Customary International Economic Law?' (1990) 32 GYIL 9; Trachtman, J. P. 'The International Economic Law revolution' (1996) 17 (1) U. Pa. J. Int'l Econ. L. 33, at p. 37. See also Themmat, P. V. V. The Changing Structure of International Economic Law (1st ed. Kuwer Academic Publishers Group 1981), at p. 10; Jackson, J. H. 'Global Economics and International Economic Law' (1998) 1 (1) J. Int'l Econ. L. 1; Seidl- Hohenveldern, I. International Economic Law (3rd ed. Kluwer Law International 1999), at pp. 1-3; Aust, A. Handbook on International Law (2nd ed. Cambridge 2010), p. 344; Charnovitz, S. 'What is international economic law?' (2011) J. Int'l Eco. L. 3; Bronde, T.; Busch, M. L.; Porges, A. The Politics of International Economic Law (1st ed. Cambridge 2011),atp. 1; Kriyawasam, R. International Economic law and The Digital Divide: A New Silk Route? (1st ed. Edward Elgar Publishing Ltd 2008), at p. 3-7; Fratianni, M. The Gravity Equation in International Trade in Rugman, A. M. The Oxford Handbook of International Business (2nd ed. Oxford University Press 2010), at p.72; Schachter, O. International law in theory and practice (1st ed. Kluwer Academic Publishers 1991), at p. 300.

28. Trachtman, J. P. 'The International Economic Law Revolution' (1996) 17 (1) U. Pa. J. Int'l Econ. L. 33, at p. 35. See Schwarzenberger, G. The principles and standards of International Economic Law 117 (A. W. Sijthoff 1966), at pp. 1 and 7; Themaat, P. V. V. The Changing Structure of International Economic Law (1st ed. Kuwer Academic Publishers Group 1981), at pp. 9-11 and pp. 287-290; Mortelmans, K.; Dijk, P.V.; Hoof, F. V.; Koers, A. Restructuring the International Economic Order: the role of law and lawyers ((Kluwer Publication 1986), at p. 14; White, G. M. International Economic Law and Developing States: Some Aspects (1st ed. London British Institute of International and Comparative Law 1988); Seidl-Hohenveldern, I. International Economic Law (2nd ed. Kluwer Law International 1992), at p. 1.

29. Quershi, A. S. and Ziegler, A. R. International Economic law (3rd ed. Sweet & Maxwell 2011), at p. 8; Malanczuk, P. Akehurst's Modern Introduction to International Law (7th ed. Routledge 1997), at p. 223; Zamora, L. S. 'International Economic Law' (1996) 17 (1) U. Pa. J. Int'l Econ. L. 63; Paul, J. R. 'The New Movements in International Economic Law' (1994- 1995) 10 (2) Am. U. J. Int'l & Pol'y 607; Brand, R. A. 'Introduction: Semantic distinctions in an age of legal convergence' (1996) U. Penn. J. Int'l Eco. L. 17; Aust, A. Handbook of International Law (2nd ed. Cambridge University Press 2005), at p. 372; Charnovitz, S. 'What is international economic law?' (2011) JIEL 3; Trachtman, J. P. 'The Domain of WTO Dispute Resolution' (1999) 40 (2) Harv. Int'l L.J. 33.

30. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 4.

31. For instance, Convention as to the General Agreement on Tariffs and Trade (GATT). See Aust, A. Handbook of International Law (2nd ed. Cambridge University Press 2005), at p. 372; Charnovitz, S. What is international economic law? (2011) JIEL 3; Trachtman, J. P. The Domain of WTO Dispute Resolution (1999) 40 (2) Harv. Int'l L.J. 33.

32. Ibid.

33. Harrison, A.; Dalkiran, E.; Elsey, E. International Business (1st ed. Oxford University Press 2000), at pp. 131-133.

34. Trachtman, J. P. 'The International Economic Law Revolution' (1996) 17 (1) U. Pa. J. Int'l Econ. L. 33, at p. 39.

35. Ibid.

36. Sarre, D. A. G. and Unler, A. Modern Oil Law (1960) J. Bus. L. 161.

37. Monye, S. O. The International Business Blueprint (1st ed. Blackwell 1997), at Chap. 1; Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 12; Taggart, J. H. and McDermott, M. C. The Essence of International Business (1st ed. Prentice-Hall 1993), Chap. 1; Harrison, A.; Dalkiran, E.; Elsey, E. International Business (1st ed. Oxford 2000), at p.3. For contrary view see Casson, L. Ancient Trade and Society (1st ed. Wayne State University Press 1984), at p. 23.

38. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 11; Hotckiss, C. International Law for Business (1st ed. McGraw-Hill, Inc 1994), at pp. 9-11; Schaffer, R.; Filiberto, A.; Earle, B. International busines law and its environment (7th ed. South-Western Cengage Learnig 2009), at p. 117; Harrison, A.; Dalkiran, E.; Elsey, E. International Business (1st ed. Oxford 2000), at p. 3; Berman, H. J. and Kaufman, C. 'The Law of International Transactions (Lex Mercatoria)' (1978) 19 (1) Harv. Int'l L. J. 221, at p. 224; Trackman, J. P. 'The evolution of The Law merchant: Our Commercial Heritage Part 1' (1980- 1981) 12 (1) J. Marit. L. & Com. 1, at p. 4; Gormley, W. P. 'The Development of the Rhodian-Roman Maritime Law to 1681, With Special Emphasis on the Problem of Collision' (1961) 3 (2) Inter-Am. L. Rev. 317, at p. 321.

39. Goode, R., ibid., at p. 12; Berman, H. J. and Kaufman, C. 'The Law of International Transactions (Lex Mercatoria)' (1978) 19 (1) Harv. Int'l L. J. 221, at p. 224; Trackman, L. E. 'The evolution of The Law merchant: Our Commercial Heritage Part 1' (1980- 1981) 12 (1) J. Marit. L. & Com. 1, at p. 4; Gormley, W. P. 'The Development of the Rhodian-Roman Maritime Law to 1681, With Special Emphasis on the Problem of Collision' (1961) 3 (2) Inter-Am. L. Rev. 317, at p. 321.

40. Cutler, A. C. Private Power and Global Authority: Transnational merchant law in the Global Political Economic (1st ed. Cambridge 2003), at p. 105. See Cranston, R. 'Theorizing Transnational Commercial Law' (2006-2007) 42 (3) Tex. Int'l L. J. 597, at p. 603; Bainbridge, S. 'Trade Usages in International Sales of Goods: An Analysis of the 1964 and 1980 Sales Conventions' (1983- 1984) 24 Va. J. Int'l L. 619, at p. 624.

41. Bewes, W. A. The Romance of the Law Merchant (1st ed. Sweet & Maxwell 1923); Goode, R. 'Abstract Payment Undertakings in International Transactions' (1996- 1997) 22 (1) Brook. J. Int'l L. 1; Burdick, F. M. 'What is the Law Merchant?' (1902) 2 (7) Colum. L. Rev. 470; Ferrari, F. 'Uniform Interpretation of the 1980 Uniform Sales Law' (1994-1995) 24 (2) Ga. J. Int'l & Comp. L. 183, at p. 185; Sweet, A. S. 'The New Lex Mercatoria and Transnational Governance' (2006) 13 (5) J. Euro. Pub. Pol. 627, at p. 629. Available at: <http://works.bepress.com/alec_stone_sweet/4>; Flanagan, P. M. 'Demythologising the Law Merchant: the Impropriety of the lex mercatoria as a choice of law' (2004) 15 (9) IC & CLR 297; Killian, M. 'CISG and the Problem with Common Law Jurisdictions' (2000- 2001) 10 J. Transnat'l L. & Pol'y 217, at pp. 219- 221; Trimble, R. J. 'Law Merchant and the Letter of Credit' (1947- 1948) 61 (6) Harv. L. Rev. 981; Notes, 'Fraud in the Transaction": Enjoining Letters of Credit During the Iranian Revolution' (1980) 93 (5) Harv. L. Rev. 992, at p. 999; Goode, R. Commercial Law (3rd ed.Penguin Books 2004), at pp. 3- 6.

42. Picat, M. and Soccio, S. 'Harmonization of European Contract Law: Fiction or Reality?' (2011) IBLJ 371, at p. 373. See Barnes, W. R. 'Contemplating a Civil Law Paradism for a Future International Commercial Code' (2004-2005) 65 (2) La. L. Rev. 677, at pp. 735-737.

43. Benson, B. L. Justice without Government: The Merchant Courts of Medieval Europe and Their Modern Counterparts in Beito, D. T.; Gordon, P.; Tabarrok, A. The Voluntary city: markets, communities and urban planning (1st ed. Academic Foundation 2006), at p . 166; Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 13.

44. Goode, R. ibid.. See also Nicholson, H. The Crusades (1st ed. Greenwood Press 2004), at Ch. 6.

45. Benson, B. L. Justice without Government: The Merchant Courts of Medieval Europe and Their Modern Counterparts in Beito, D. T.; Gordon, P.; Tabarrok, A. The Voluntary city: markets, communities and urban planning (1st ed. Academic Foundation 2006), at p . 166.

46. Ibid.

47. Trackman, L. E. The Law Merchant: The Evolution of Commercial Law (1st ed. Fred B. Rothman and Co. 1983), at p. 8.

48. Ibid.

49. Berman, H. J. and Kaufman, C. 'The Law of International Commercial Transactions (Lex Mercatoria)' (1978) 19 (1) Harv. Int'l L. J. 221, at p.225; Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 13; Trackman, L. E. The Law Merchant: The Evolution of Commercial Law (1st ed. Fred B. Rothman and Co. 1983), at p. 9; Runyan, T. J. 'The Rolls Of Oleron and the Admiralty Court in Fourteenth Century England' (1975) 19 (2) Am. L. Legal Hist. 95.

50. Baker, J. H. 'The Law Merchant and the Common Law before 1700' (1979) 38 (2) Ca. L. J. 295. See Rosen, M. D. 'Do Codification and Private International law Leave Room for a New Law Merchant?' (2004-2005) 5 (1) Chi. J. Int'l L 83; Rasmussen, R. K. International Commercial Law in Guzman, A. T. and Sykes, A. O. Research Handbook in International Law: Research Handbook in International Economic Law (1st ed. Edward Elgar Publishing Ltd 2007), at p. 278; Naon, H. A. G. Choice-of-law Problems in International Commercial Arbitration (1st ed. J.C.B. Mohr 1992), at p. 29; Cranston, R. 'Theorizing Transnational Commercial Law' (2006-2007) 42 (3) Tex. Int'l L.J. 597, at p. 601.

51. Mitchell, W. An Essay on the Early History of the Law Merchant (1st ed. Cambridge 1904), at p. 10.

52. Foster, H. D. 'Foundation Myth as Legal formant: The medieval law Merchant and the new Lex Mercatoria' (2005),accessible at <http://www.forhistiur.de/zitat/0503Foster.htm>, para first.

53. Lando, O. The Lex Mercatoria in International Commercial Arbitration (1985) 34 ICLQ 747. See Cutler, A. C. Private Power and Global Authority: Transnational merchant law in the Global political Economy (1st ed. Cambridge 2003), at p. 4.

54. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 6.

55. Donahue, C. 'Medieval and Early Modern Lex Mercatoria: An Attempt at the probation diabolica' (2004) 5 Chi. J. Int'l L. 21. See Rosen, M. D. 'Do Codification and Private International law Leave Room for a New Law Merchant?' (2004-2005) 5 (1) Chi. J. Int'l L 83.

56. Eawrt, J. S. 'What Is the Law Merchant?' (1903) 3 (3) CLR 135, at p. 138.

57. Foster, H. D. 'Foundation Myth as Legal formant: The medieval law Merchant and the new Lex Mercatoria' (2005), accessible at <http://www.forhistiur.de/zitat/0503Foster.htm>.

58. Carter, A.T. 'Early History of the Law Merchant in England' (1901) 17 (3) LQR 232.

59. Ibid, at p. 616.

60. Berman, H. J. Law and Revolution: the Formation of the Western Legal Tradition (1st ed. Harvard 1983), at p. 321, 341 and 343. See also Volckart, O. and Mangels, A. 'Are the Roots of the Modern Lex Mercatoria Really Medieval?' (1999) 65 (3) Southern Econ. J. 427, at p. 428.

61. Berman, H. J., ibid., at p. 342; Thayer, P. W. 'Comparative Law and the Law Merchant' (1936-1937) 6 (2) Brook L. Rev. 139, at p. 14.

62. Volckart, O. and Mangels, A. 'Are the Roots of the Modern Lex Mercatoria Really Medieval?' (1999) 65 (3) Southern Econ. J. 427, at p. 428. See Kaden, E. 'Order within Law, Variety within custom: The Character of the Medieval Merchant Law' (2004-2005) 5 (1) CJIL 39, at p. 40.

63. Baxter, I. 'International Conflict of Laws and International Business' (1985) 34 ICLQ 538, at p. 543

64. Bane, C. A. 'From Holt and Mansfield to Story to Llewellyn and Mentschikoff: The Progressive Development of Commercial Law' (1982-1983) 37 (3) Miami L. Rev. 351, at p. 352.

65. Benson, B. L. 'The Merchant Courts of Medieval Europe and Their Modern Counterparts' in Beito. D.T.; Gordon, P.; Tabarrok, A. The Voluntary City: Markets, Communities and Urban Planning (1st ed. Academic Foundation 2006), at p. 168.

66. Ibid.

67. Ibid.

68. The literature is abundant. See Oppenheim, L. and Roxburgh, R. International Law: A Treatise (3rd ed. Lawbook Exchange Ltd 2006), at p. 129; Brownlie, I. Principles of Public International Law (7th ed. Oxford 2008), chap. 14; Crawford, J. 'The Criteria for Statehood in International Law' (1976) 48 (1) BYIL 93, at pp. 139- 140; Island of Palmas case (Netherlands v. U.S.) [1928] 2 R.I. A. A. 829, at p. 838; Austro- German Customs Union case (Advisory Opinion) 1931] P. C. I. J. Rep. Ser. A/B, No. 41, at p. 45; Harris, D. Cases and Materials on International Law (7th ed. Sweet & Maxwell 2010), at p. 163; Shaw, M. N. International Law (6th ed. Cambridge 2008), at pp. 202- 203; Charlesworth, H. and Chinkin, C. The boundaries of International Law: A Feminist Analysis (1st ed. Manchester University Press 2000), at p. 133; Dixon, M.; McCorquodale, R.; Williams, S. Cases & Materials on International Law (5th ed. Oxford 2011), at p. 137- 138; Henkin, L. International Law: Politics and Values (Developments in International Law) (1st ed. Kluwer Academic Publishers 1995), at p. 8; Philpott, D. Revolutions in Sovereignty: How Ideas Shaped Modern Inter Relations (1st ed. Printceton University Press 2001), at pp. 16-19; Krasner, S. D. Sovereignty: Organized Hypocrisy (1st ed. Princeton University Press1999), at Ch. 1; MacCormick, N. Questioning Sovereignty: Law, State, and Nations in the European Commonwealth (1st ed. Oxford University Press 1999), at p. 127; Kingsbury, B. 'Sovereignty and Inequality' (1998) 9 EJIL 599; Rabkin, J. Why Sovereignty Matters (1st ed. AEL Press 1998); Sassen, S. Losing Control? Sovereignty in an Age of Globalization (1st ed. Columbia University Press 1893), at Ch. 1; Keohane, R. O. Sovereignty, Interdependence and International Institutions, in Miller, L. B. and Smith, M. Ideas and Ideals: Essays on Politics in Honor of Stanley Hoffmann (1st ed. Westview 1993); Hinsley, F. H. Sovereignty (2nd ed. Cambridge University Press 1986); Elshtain, J. B. Sovereignty: God, State, and Self (1st ed. Basic Books 2008); Bliss, P. Of Sovereignty (1st ed. Lawbook Exchange Ltd. 2005), at Ch. 1; Ugochukwu, A. S. J. Sovereignty (1st ed. Xibris 2009), at Ch. 1; Biersteker, T. J. and Weber, C. State Sovereignty as Social Construct (1st ed. Cambridge University Press 1996), at ch. 1; Held, D. 'Law of States, Law of People: Three Models of Sovereignty' (2002) 8 (1) L. T. 1.

69. Zimmermann, R. 'Civil Code and Civil Law: The "Europeanization" of Private Law within the European Community and the Re-emergence of a European Legal Science' (1994- 1995) 1 (1) CJEL 63, at p. 65. See also Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 18-19; Juenger, F. K. 'The Lex Mercatoria and Private International Law' (1990-1991) 60 (4) La. L. Rev. 1133, at p. 1135.

70. Cremades, B. M. and Plehn, S. L. The New Lex Mercatoria and the Harmonization of the Laws of International Commercial Transactions (1983-1984) 2 (3) B. U. Int'l L. J. 317, at p. 320.

71. Clive M. Schmitthoff's select essays on international trade Law (1st ed. Kluwer Academic Publishers 1988), at p. 25. See also Trimble, R. J. 'The Law Merchant and the Letter of Credit' (1948) 61 HLR 981, at p. 986.

72. Clive M. Schmitthoff's select essays on international trade law (1st ed. Kluwer Academic Publishers 1988), at p. 25. See Cranston, R. 'Theorizing Transnational Commercial Law' (2006-2007) 42 (3) Tex. Int'l L. J. 597, at p. 602.

73. Trackman, L. E. 'Evolution of the Law merchant: Out Commercial Heritage-Part II: The Modern Law Merchant' (1980-1981) 12 (2) J. Mar. L. & Com. 153, at p. 156; Thayer, P. W. 'Comparative Law and the Law Merchant' (1936-1937) 6 (2) Brook. L. Rev. 139, at p. 142; Plucknett, T. F. T. A Concise History of the Common Law (5th ed. The Lawbook Exchange Ltd. 2010), at p. 663

74. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 18; Trackman, L. E. Evolution of the Law merchant: Out Commercial Heritage-Part II: The Modern Law Merchant (1980-1981) 12 (2) J. Mar. L. & Com. 153, at p. 156.

75. Bane, C. A. 'From Holt and Mansfield to Story to Liewellyn and Mentschikoff: The Progressive Development of Commercial Law' (1982-1983) 37 (3) U. Miami L. Rev. 351, at p. 356; Schaffer, R.; Filiberto, A.; Earle, B. International busines law and its environment (7th ed. South-Western Cengage Learnig 2009), at p. 118; Jones, W. C. 'An Enquiry into the history of the Adjudication of Mercantile Disputes in Great Britain and the United States' (1957-1958) 25 (3) U. Chi. L. Rev. 445; Berman, H. J. and Kaufman, C. 'The Law of International Commercial Transactions (Lex Mercatoria)' (1978) 19 (1) Harv. I. L. J. 221, at p. 226.

76. Schaffer, ibid., at p. 118; Benson, B. L. 'The Spontaneous Evolution of Commercial Law' (1989) 55 (3) Southern Econ. J. 644, at p. 654; Trackman, L. E. The Law Merchant: The Evolution of Commercial Law (1st ed. Fred B. Rothman and Co. 1983), at p. 27; Baker, J. H. 'The Law Merchant and the Common Law Before 1700' (1979) 38 (2) Cambridge L. J. 295, at p. 297; Oldham, J. English Common Law in the Age of Mansfield (Studies in Legal History) (1st ed. University of North Carolina Press 2004), at chap. 1; Bane, C. A. 'From Holt and Mansfield to Story to Llewellyn and Mentschikoff: The Progressive Development of Commercial Law' (1982-1983) 37 (3) U. Miami L. Rev. 351, at p. 358; Pluckett, T. F. T. A Concise History of the Common Law (5th ed. The Lawbook Exchange Ltd. 2010), at p. 248- 251.

77. Bane, C. A. 'From Holt and Mansfield to Story to Llewellyn and Mentschikoff: The Progressive Development of Commercial Law' (1982-1983) 37 (3) U.Miami L. Rev. 351, at p. 358. See Rubin, E. L. 'Learning from Lord Mansfield: Toward a Transferability Law for Modern Commercial Practice' (1994-1995) 31 (3) Idaho L. Rev. 775, at p. 780.

78. Clive M. Schmittoff's select essays on international trade law (1st ed. Kluwer Academic Publishers 1988), at p. 26.

79. Gutteridge, H. C. Comparative Law: An Introduction to the Comparative method of Legal Study (2nd ed. Cambridge 1949), at p. 146.

80. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 19.

81. Berman, H. J. 'Law of International Commercial Transactions (Lex Mercatoria)' (1987) 2 Emory J. Int'l Disp. Resol. 235, at p. 243.

82. Clive M. Schmittoff's select essays on international trade law (1st ed. Kluwer Academic Publishers 1988), at p. 27.

83. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 19.

84. Ibid.

85. Tunc, A. 'English and Commercial Law' (1961) J. Bus. L. 234, at pp. 237-246.

86. Goode, R. Commercial Law (3rd ed.Penguin Books 2004), at pp. 3- 4.

87. Goode, R. Commercial Law (3rd ed.Penguin Books 2004), at p. 5- 7.

88. Available at <http://www.uncitral.org/pdf/english/texts/general/06-50941_Ebook.pdf>.

89. Ibid. at p. 14.

90. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 24.

91. Lando, O. 'The lex mercatoria in international Commercial Arbitration' (1985) 34 ICLQ 747 , at p. 749.

92. Malanczuk, P. Akehurst's Modern Introduction to International Law, at p. 48: Goode, R. BOOK, at p. 38;

93. Cheng, B. General Principles of Law as Applied by International Courts and Tribunals (2nd ed. Cambridge 2006), at p. 112- 114.

94. Ibid. at p. 113.

95. Goode, R. 'Usages and Its Reception in Transnational Commercial Law' (1997) 46 (1) ICLQ 1, at p. 16; Lando, O. 'The lex mercatoria in international Commercial Arbitration' (1985) 34 ICLQ 747, at p. 750.

96. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), AT P. 38.

97. Available at <http://www.ali.org/>.

98. Available at <http://www.ali.org/index.cfm?fuseaction=about.overview>.

99. Schaffer, R.; Filiberto, A.; Earle, B. International busines law and its environment (7th ed. South-Western Cengage Learning 2009), at p. 32. See Luo, Y. Political Risk and Country Risk in International Business: Concepts and Measures in Rugman, A. M. The Oxford Handbook of International Business (2nd ed. Oxford University Press 2010), at pp. 740- 762; Cherunilam, F. International Business: Text and Cases (4th ed. Prentice-Hall of India Pvt. Ltd 2007), at pp. 7- 8.

100. Miller, K. D. A 'Framework for Integrated Risk management in International Business' (1992) 23 (2) J. Bus. Stu. 311, at p. 312.

101. DiMatteo, L. A. The Law of International Business Transactions (1st ed. South-Western, Division of Thomson Learning 2002), at p. 13.

102. Berger, K. P. Private Dispute Resolution in International Business: Negotiation, Mediation, Arbitration (1st ed. Kluwer Law International 2006), at pp. 29-32; Johnson, D. and Turner, C. International Business: Themes and Issues in the Modern Global Economy (2nd ed. Routledge 2010), Ch. 13; Rugman, A. M. and Collinson, S. International Business (4th ed. Prentice Hall 2006), at pp. 129-133. Similarly, divergence of terminology is also a potential risk see Zylva, A. M. 'Towards a common law: the difficulty of harmonising international construction' (1997) 13 (2) Construction L. J. 107, at pp. 108-110.

103. Wall, S.; Minocha, S.; Rees, B. International Business (3rd ed. Prentice Hall 2010), at p. 14-16; McDonald, F. and Burton, F. International Business (1st ed. Thomson Learning 2002), Chap. 2; Johnson, D. and Turner, C. International Business: Themes and issues in the modern global economy (2nd ed. Routledge 2010), Chap. 2

104. DiMatteo, L. A. The Law of International Business Transactions (1st ed. South-Western, Division of Thomson Learning 2002), at p. 16.

105. See Falcoal, Inc. v. Kuruma, 660 F. Supp. 1536 (S.D. Tex. 1987); Kern v. Dynalectron Corp., 577 F. Supp. 1196 (N.D. Tex. 1983).

106. 390 F. Supp. 361 (1975) US DC (SDNY).

107. 646 F. 2d 434 (1981) United States Court of Appeals (10th Cir.)

108. Ibid.

109. Schaffer, R.; Filiberto, A.; Earle, B. International busines law and its environment (7th ed. South-Western Cengage Learning 2009), at p. 38; Menipaz, E. and Menipaz, A. International Business: Theory and Practice (1st ed. SAGA Publications 2011), at p. 151; Clark, E. 'Valuing Political Risk' (1997) 16 (3) J. Int'l Money and Finance 477; Fitzpatrick, M. 'The Definition and Assessment of Political Risk in International Business: A Review of the Literature' (1983) 8 (2) Academy of Management R. 249; Robock, S. H. 'Political Risk: Identification and Assessment' (1971) 6 (4) Col. J. World Bus. 6, at p. 8; DiMatteo, L. A. The Law of International Business Transactions (1st ed. South-Western, Division of Thomson Learning 2002), at p. 26; Dlabay, L. and Scott, J. C. International Business (4th ed. Cengage Learning 2010), at p. 93-95 Sharan, V. International Business: Concepts, Environment and Strategy (3rd ed. Pearson Education 2011), at pp. 229-231.

110. Vaghefi, M. R.; Paulson, S. K.; Tomlinson, W. H. International Business : Theory and Practice (1st ed. Taylor & Francis Ltd 1991), at pp.197-198.

111. Opaluwa, G. 'Effective compensation for expropriation of foreign investment' (2011) 16 (20 Cov. L. J. 1; George, L. 'Expropriation' (2002) Int'l Energy L. & Tax. Rev. 46; Baughen, S. 'Expropriation and Environmental Regulation: the Lessons of NAFTA Chapter Eleven' (2006) 18 (2) J. Env. L. 207, at p. 209-213; Schaffer, R.; Filiberto, A.; Earle, B. International business law and its environment (7th ed. South-Western Cengage Learning 2009), at p. 26; DiMatteo, L. A. The Law of International Business Transactions (1st ed. South-Western, Division of Thomson Learning 2002), at p. 27

112. DiMatteo, L. A. The Law of International Business Transactions (1st ed. South-Western, Division of Thomson Learning 2002), at p.27. See Schaffer, R.; Filiberto, A.; Earle, B. International business law and its environment (7th ed. South-Western Cengage Learning 2009), at p. 26; In Re Union Carbide Corporation Gas Plant Disaster at Bhopal, 809 F. 2d 195 (1987) U.S. C.A. (2nd. Cir.).

113. Rafat, A. 'Legal Aspects of the Cuban Expropriation of American-owned Property' (1966-1967) 11 (1) St. Louis U. L. J. 45, at p. 46; Ortiz, J. A. 'The Illegal Expropriation of property in Cuba: A Historical and Legal Analysis of the Takings and a Survey of Restitution Schemes for a Post-Socialist Cuba' (1999-2000) 22 (3) Loy. L. A. Int'l & Comp. L. Rev. 321; Schaffer, R.; Filiberto, A.; Earle, B. International business law and its environment (7th ed. South-Western Cengage Learning 2009), at p.26; Akinsanya, A. 'International Protection of Direct Foreign Investments in the Third World' (1987) 36 (1) ICLQ 58, at p. 61.

114. Castro, J. O. and Uhlenbruck, K. 'Characteristics of Privatization: Evidence from Developed, Less-Developed, and Former Communist Countries' (1977) 28 (1) J. Int'l Bus. Stu. 123; Ramamurti, R. 'Why are Developing Countries Privatizing?' (1992) 23 (2) J. Bus. Stu. 225.

115. DiMatteo, L. A. The Law of International Business Transactions (1st ed. South-Western, Division of Thomson Learning 2002), at p 27; Schaffer, R.; Filiberto, A.; Earle, B. International business law and its environment (7th ed. South-Western Cengage Learning 2009), at p. 29.

116. Cross, F. B. and Miller, R. L. The Legal Environment of Business: Text and Cases: Ethical, Regulatory, Global, and Corporate Issues (8th ed. South- Western, Division of Thomson Learning 2011), at p. 2; Harrison, A.; Dalkiran, E.; Elsey, E. International Business (1st ed. Oxford 2000), at p.7.

117. Ajami, R. A. and Goddard, G. J. International Business: Theory and Practice (2nd ed. M. E. Sharpe, Inc. 2006), at p. 194.

118. Folsom, R.; Gordon, M. W.; Spanogle, J. A. International Business Transactions (6th ed. West Group 2000), at p. 13.

119. Ibid.

120. Ibid.

121. Ulph, J. 'The UCP 600: Documentary credits in the 21st century' (2007) 4 JBL 355. See Ferrari, F. 'The International Sphere of Application of the 1988 Ottawa Convention on International Factoring' (1999) 7 IBLJ 895; Picat, M. and Soccio, S. 'Harmonization of European contract law: fiction or reality?' (2011) Int'l Bus. L. J. 371, at p. 372.

122. Rosett, A. 'Unification, Harmonization, Restatement, Codification, and Reform in International Commercial Law' (1992) 40 (3) Am. J. Com. L. 683, at p. 685.

123. Glenn, H. P. 'Harmony of Laws in the Americas' (2003) 34 (2) U. Miami Inter-Am. L. Rev. 223, at p. 224. The French (Napoleonic) Code was the first ample example of codification. See Berkowitz, D.; Pistor, K.; Richard, J. 'The Transplant Effect' (2003) 51 (1) AJCL 163, at p. 173; Ancel, M. 'From the unification of law to its harmonization' (1976-1977) 51 (1) Tul. L. Rev. 108.

124. Ibid.

125. Gopalan, S. 'The Creation of International Commercial Law: Sovereignty Felled?' (2004) 5 San. Diego Int'l L.J. 267, at p. 278. Ancel, M. 'From the unification of law to its harmonization' (1976- 1977) 51 (1) Tul. L. Rev. 108, at p. 114.

126. Ibid.

127. Ibid.

128. Ziegel, J. 'Harmonization of Private Laws in Federal Systems of Government: Canada, the USA, and Australia' inGoode, R. M. and Cranston, R. Making commercial law: essays in honour of Roy Goode Making commercial law: essays in honour of Roy Goode (Clarendon Press 1997), at p. 133; Glenn, H. P. 'Harmony of Laws in the Americas' (2003) 34 (2) U. Miami Inter-Am. L. Rev. 223.

129. Leebron, D. 'Claims For Harmonization: A Theoretical Framework' (1996) 27 (1) Can. Bus. L. J. 66, at p.67.

130. Glenn, H. P. Harmony of Laws in the Americas (2003) 34 (2) U. Miami Inter-Am. L. Rev. 223.

131. Ibid.

132. David, R. 'The Methods of Unification' (1968) 16 (1/2) AJCL 13; Byrne, J. E. 'Fundamental Issues in the Unification and Harmonization of Letter of Credit Law' (1991- 1992) 37 (1) Loy. L. Rev. 1, at p. 12. See Mistelis, L. A. 'Regulatory Aspects: Globalization, Harmonization, Legal Transplants, and Law Reform- Some Fundamental Observations' (2000) 34 (3) Int'l L. 1055, at p. 1059; Leebron, D. 'Claims For Harmonization: A Theoretical Framework' (1996) 27 (1) Can. Bus. L. J. 63, at p. 104; Picat, M. And Soccio, S. 'Harmonization of European contract law: fiction or reality?' (2011) Int'l Bus. L. J. 371, at p. 372; Roset, A. 'Special Reflection on the United Nations Convention on Contracts for the International Sale of Goods' (1984) 45 Ohio St. L.J. 265, 268.

133. Zaphiriou, G.A. Unification and Harmonization of Law Relating to Global and Regional Trading (1993-1994) 14 (2) N.III. U. L. Rev. 407.

134. Zamoroa, S. 'NAFTA and the Harmonization of Domestic Legal System: The Side Effects of Trade Law' (1995) 12 (2) Ari. J. Int'l & Comp. L. 401, at p. 403.

135. Ibid.

136. Zaphiriou, G. A. 'Unification and Harmonization of Law Relating to Global and Regional Trading' (1993-1994) 14 (2) N.III. U. L. Rev. 407.

137. Zamoroa, S. 'NAFTA and the Harmonization of Domestic Legal System: The Side Effects of Trade Law' (1995) 12 (2) Ari. J. Int'l & Comp. L. 401, at p. 403.

138. Bridge, M. 'Uniform and Harmonized Sales Law: Choice of Law Issues' 905, at p. 907. Available at <http://cisgw3.law.pace.edu/cisg/biblio/bridge.pdf>.

139. Art. 249 of the EC Treaty.

140. Art. 249 of the EC Treaty.

141. Bridge, M. 'Uniform and Harmonized Sales Law: Choice of Law Issues' 905, at p. 907. Available at <http://cisgw3.law.pace.edu/cisg/biblio/bridge.pdf.>

142. Avaialable at <http://www.uncitral.org/uncitral/en/about/origin_faq.html#harmonization>. See Block- Lieb, S. and Halliday, T. Harmonization and Modernization in UNICITRAL's Legislative Guide on Insolvency Law (2006-2007) 42 (3)Tex. Int'l L.J. 475, at p. 493.

143. Zeller, B. CISG and the Unification of International Trade Law (1st ed. Routledge- Cavendish 2006), at p. 12.

144. Gopalan, S. 'New Trends in the Making of International Commercial Law' (2003-2004) 23 (2) J. L. & Com. 117, at p. 121.

145. Available at <http://www.uncitral.org/uncitral/en/about/origin_faq.html#harmonization>. See Block- Lieb, S. and Halliday, T. 'Harmonization and Modernization in UNICITRAL's Legislative Guide on Insolvency Law' (2006-2007) 42 (3)Tex. Int'l L.J. 475, at p. 493.

146. Bayraktaroglu, G. 'Harmonization of Private International Law at Different Levels: Communitarization v. International Harmonization' (2003) 5 (1/2) Eur. J. L. Reform 127, at pp. 128-129; Lando, O. 'Optional or Mandatory Europeanization of Contract Law' (2000) 1 European Rev. Private L. 59.

147. Leebron, D. W. 'Claims for Harmonization: A Theoretical Framework' (1996) 27 (1) Can. Bus. L. J. 63, at p. 68; Zaphiriou, G. A. 'Unification and Harmonization of Law Relating to Global and Regional Trading' (1993-1994) 14 (2) N.III. U. L. Rev. at p. 407; Gopalan, S. 'New Trends in International Commercial Law' (2003- 2004) 23 (2) J. L. & Com. 117, at p. 118.

148. Gopalan, S. 'The Creation of International Commercial Law: Sovereignty Felled?' (2004) 5 San. Diego Int'l L.J. 267, at p. 278. 18; Goode, R. 'Rule, Practice, and Pragmatism in Transnational Commercial law' (2005) 54 ICLQ 539, at p. 554.

149. Pound, R. 'Unification of Law' (1934) 20 A. B. A. J. 695; Wigmore, J. H. 'The International Assimilation of Law-Its Needs and Its Possibilities from an American Standpoint' (1915- 1916) 10 (6) III. L. Rev. 385; Sturley, M. F. 'International Uniform Laws in National Courts: The Influence of Domestic Law in Conflicts of Interpretation' (1986-1987) 27 (4)Va. J. Int'l L. 729.

150. Goode, R. 'Rule, Practice, and Pragmatism in Transnational Commercial law' (2005) 54 ICLQ 539, at p. 555; Goode, R. 'Reflections of the Harmonization of Commercial law' in Cranston, R. and Goode, R. M. Commercial and Consumer law: national and international dimensions ( 1st ed. Clarendon Press 19993), at p. 3; Akseli, O. International Secured Transactions Law: Facilitation of Credit and International Conventions and Instruments (1st ed. Routledge 2011), at pp. 78 -80; Gopalan, S. 'Harmonization of Commercial law: Lessons from the Cape Town Convention on International Interests in Mobile Equipment' (2003) 9 (2) L. & Bus. Rev. Am. 255, at p. 256; Posner, E. A. 'Arbitration and the Harmonization of International Commercial Law: A Defense of Mitsubishi' (1998-1999) 39 (3) Va. J. Int'l L. 647, at p. 648; Mahajan, K. and Sanwal, K. 'The case for a uniform law and CISG in India' (2009) Int'l Com. & Comm. L. Rev. 359; Reinhart, G. 'Development of a Law for the International Sales of Goods' (1983- 1984) 14 Cumb. L. Rev. 89, at p. 91.

151. Barnes, W. R. 'Contemplating a Civil Law Paradism for a Future International Commercial Code' (2004-2005) 65 (2) La. L. Rev. 677, at p.754. See Ferrari, F. The Sphere of Application of the Vienna Sales Convention (1st ed. Kluwer Law International 1995), at p. 1; Kabik, M. 'Through the Looking-Glass: International Trade in the "Wonderland" of the United Nations Convention on Contracts for the International Sale of Goods' (1991-1992) 9 (2) Int'l Tax & Bus. L. 408, at p. 409; Joseph, J. E. 'Contract Formation under the United Nations Convention on Contracts for the International Sale of Goods and the Uniform commercial Code' (1984- 1985) 3 (1) Dick. J. Int'l L. 107; Mendes, E. P. 'The U. N. Sales Convention & U.S.-Canada Transactions: Enticing the World's Largest Trading Bloc to Do Business under a Global Sales Law' (1988) 8 (1) J. L. & Com.109, at p. 112; Mahajan, K. and Sanwal, K. 'The Case for a uniform sales law and CISG in India' (2009) I. C. & Comm. L. Rev. 359.

152. Honnold, A. 'Uniform Law for International Sales' (1959) 107 (3) U. Pa. L. Rev. 299; Yntema, H. E. 'Unififcation of the Laws Respecting Negotiable Instruments' (1951) 4 (2) ILQ 178.

153. Honnold, ibid, at p .302; Lando, O. 'The Contribution of Comparative Law to Law Reform by International Organization' (1977) 25 (4) AJCL 641, at p. 643; Ziegler, V. 'Particularities of the Harmonisation and Unification of International Law of Trade and Commerce' in Basedow, J. Private Law in the International Arena- Liber Amicorum Kurt Siehr (1st ed. Kluwer Law International 2000), pp. 875-879.

154. Dunham, A. A. 'New Reasons For Uniformity' (1963) 16 U. Chi. L. Sch. Rec. 3, 26-27; Lawther, H. P. 'Uniform State Laws' (1940) 18 (4) Tex. L. Rev. 436, 437

155. Yntema, H. E. 'Unification of the Laws Respecting Negotiable Instruments' (1951) 4 (2) ILQ 178; Goode, R. ;Rule, Practice, and Pragmatism in Transnational Commercial law; (2005) 54 ICLQ 539, at p. 555.

156. Bhagwati, J. N. and Hudec, R. E. Fair Trade and Harmonization: Prerequisites for Free Trade? Economic Analysis (1st ed. MIT Press 1996), at p. 43.

157. Ibid.

158. Zeller, B. CISG and the Unification of International Trade Law (1ST ed. Routledge-Cavendish 2006) at p. 11.

159. Ancel, M. ;From the Unification of Law to Its Harmonization; (1976-1977) 51 (1) Tul. L. Rev. 108, at p. 109.

160. Ibid

161. Ibid.

162. Stephan, P. B. 'The Futility of Unification and Harmonization in International Commercial Law' (1998-1999) 39 (3) Va. J. Int'l L. 743, at p. 748.

163. Ibid. at p. 746.

164. Ibid.

165. Ibid.

166. Leebron, D. 'Claims For Harmonization: A Theoretical Framework' (1996) 27 (1) Can. Bus. L. J. 63, at p. 75-76; Leebron, D. W. 'Lying Down with Procrustes: An Analysis of Harmonization Claims' in Bhagwati, J. N. and Hudec, R. E Fair Trade and Harmonization: Economic Analysis (1st ed. MIT Press 1996),at p. 52.

167. 120 Fortune Magazine 131, November 20, 1989.

168. 120 Fortune Magazine 131, November 20, 1989

169. Goode, R. Rule, Practice, and Pragmatism in Transnational Commercial law (2005) 54 ICLQ 539, at p. 555.

170. Ibid.

171. Gopalan, S. 'The Creation of International Commercial Law: Sovereignty Felled?' (2004) 5 San. Diego Int'l L.J. 267, at p. 279.

172. Barnet, D.M. 'Transnational Transactions: legal work, cross-border commerce and global regulation' in Likosky, M. Transnational Legal Process: Globalization and Power Disparities (Law in context) (1st ed. Butterworths 2002), at p. 109-110; Goode, R. 'Rule, Practice, and Pragmatism in Transnational Commercial law' (2005) 54 ICLQ 539, at p. 556.

173. Bridge, M. G. 'Uniform and Harmonized Sales Law: Choice of Law Issues' in Fawcett, J. J.; Harris, J.M. and Bridge, M. International Sale of Goods in the Conflict of Laws (Oxford Private International Law Series)(1st ed. Oxford University Press 2005) 905, at p. 907. Available at <http://cisgw3.law.pace.edu/cisg/biblio/bridge.pdf>. Contrary view is taken by Ferrari, F. 'Forum Shopping despite International Uniform Contract Law Conventions' (2002) 51 (3) ICLQ 689.

174. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p.192; Rosett, A. 'Special Reflection on the United Nations Convention on Contracts for the International Sale of Goods' (1984) 45 Ohio St. L.J. 265, at p. 268. Leebron took contrary view. See Leebron, D. W. 'Lying Down with Procrustes: An Analysis of Harmonization Claims' in Bhagwati, J. N. and Hudec, R. E. Fair Trade and Harmonization: Prerequisites for Free Trade? Economic Analysis? (1st ed. MIT Press 1996), at pp. 88-90; Winship, P. 'Domesticating International Commercial Law: Revising U.C.C. Article 2 in Light of the United Nations Sakes Convention' (1991- 1992) 37 (1) Loy. L. Rev. 43, at pp. 45- 46.

175. For definition of 'transactional costs' see Standifird, S. S. and Marshall, R. S. 'The Transaction Cost Advantage of Guanxi- Bases Business Practices' (2000) 35 (1) J. World Bus. 21, at p. 25. For classification of such costs see Nijsen, A.; Hudson, J.; Muller, C; Paridon, K.V.; Thurik, R. Business Regulation and Public Policy: The Costs and Benefits of Compliance (1st ed. Springer 2009), at p. 143. Wool, J. 'Rethinking the Notion of Uniformity in the Drafting of International Commercial Law: a Preliminary Proposal for the Development of a Policy- based Unification Model' (1997) 2 ULR 46, at p. 47. Wool, J. 'Case for a Commercial Orientation to the Proposed UNIDROIT Convention as Applied to Aircraft Equipment' (1999) 4 ULR 289, at p. 291.

176. Nijsen, A.; Hudson, J.; Muller, C; Paridon, K.V.; Thurik, R. Business Regulation and Public Policy: The Costs and Benefits of Compliance (1st ed. Springer 2009), at p. 143.

177. Walt, S. 'Novelty and the Risks of Uniform Sales Law' (1998-1999) 39 (3) Va. J. Int'l L. 671.

178. Miller, G. P. 'The Legal- Economic Analysis of Comparative Civil Procedure' (1997) 45 AJCL 905, at p. 917.

179. Miller, G. P. 'Legal- Economic Analysis of Comparative Civil Procedure' (1997) 45 AJCL 905, at p. 917.

180. Fox, E. M. 'Harmonization of Law and Procedures in a Globalized World: Why, What, and How' (1991-1992) 60 (2) Antitrust L.J. 593.

181. Ibid. at p. 594.

182. Goode, R. 'Reflections on the Harmonization of Commercial Law' (1991) Unif. L. Rev. 54, at p. 72.

183. Leebron, D. 'Claims For Harmonization: A Theoretical Framework' (1996) 27 (1) Can. Bus. L. J. 63, at p. 77.

184. Ibid. See also Farnsworth, E. A. 'Unification and Harmonization of Private Law' (1996) 27 (1) Can. Bus. L. J. 48, at p. 52.

185. Ibid.

186. Ibid.

187. Oppong, R. F. 'Private international law and the African Economic Community: a plea for greater attention' (2006) ICLQ 911, 912; (2006) 3 J. S. Afr. L. 497. See also Akseli, N. O. International Secured Transactions Law: Facilitating of Credit and International Conventions and Instruments (1st ed. Routledge 2011), at p. 80.

188. Available at <http://www.oecd.org/>.

189. Vittori, M. 'Enhancing the Participation of Developing Economies in the Multilateral Trade Treaties' Rule-Making and Accession Process: The UNCTAD/WTO ITC Approach' (2006) 11 (1) Unif. L. Rev. 153, at p. 154.

190. Walt, S. 'Novelty and the Risks of Uniform Sales Law' (1998-1999) 39 (3) Va. J. Int'l L. 671

191. Bonell, M. 'Unidroit Initiative for the Progressive Codification of International Trade Law' (1978) 27 (2) ICLQ 413, at p. 439.

192. Leebron, D. 'Claims For Harmonization: A Theoretical Framework' (1996) 27 (1) Can. Bus. L. J. 63, at p. 66; Rosett, A. 'Unification, Harmonization, Restatement, Codification, and Reform in International Commercial Law' (1992) 40 (3) Am. J. Com. L. 683, at p. 685.

193. Hobhouse, J. S. 'International Conventions and Commercial Law: the Pursuit of Uniformity' (1990) 106 L.Q.R. 530.

194. Fox, E. M. 'Harmonization of Law and procedures in a globalized world: why, what, and how?' (1991-1992) 60 (2) Antitrust L. J. 593.

195. Ibid.

196. Ibid. See Arvind, T. T. 'The "Transplant effect" in harmonization' (2010) ICLQ 65, at p. 87.

197. Goode, R. 'Rule, Practice, and Pragmatism in Transnational Commercial law' (2005) 54 (3) ICLQ 539, at p. 558.

198. Fox, E. M. 'Harmonization of Law and procedures in a globalized world: why, what, and how?' (1991-1992) 60 (2) Antitrust L. J. 593.

199. Daniels, R. 'Should Provinces Compete? The Case for a Competitive Corporate Law Market' (1991) 36 (1) McGill L.J. 130; Evans, M. 'Uniform Law: A Bridge Too Far?' (1995) 3 (1/2) Tul. J. Int'l & Comp. L. 145, at pp. 146- 149.

200. Goode, R. 'Reflections on the Harmonization of Commercial Law' (1991) 9 Unif. L. Rev. 54, at p. 73.

201. Pistor, K. 'The Standardization of Law and Its Effect on Developing Economies' (2002) 50 (1) AJCL 97, at p. 98.

202. Goode, R. 'Insularity or Leadership? The Role of the United Kingdom in the Harmonization of Commercial Law Law' (2001) 50 (4) Int'l & Comp. L. Q. 751, at p. 756.

203. Goode, R. 'Reflections on the Harmonization of Commercial Law' (1991) 9 Unif. L. Rev. 54, at p. 73.

204. Gopalan, S. 'Creation of International Commercial Law: Sovereignty Felled?' (2004) 5 San. Diego Int'l L. J. 267, at p. 295.

205. Ibid.

206. Ibid. at pp. 296-297. See Ryan, L. M. 'The Convention on Contracts for the International Sale of Goods: Divergent Interpretations' (1995-1996) 4 (1) Tul. J. Int'l & Comp. L. 99, at p. 101; Sturley, M. F. 'International Uniform Law in National Courts: The Influence of Domestic Law in Conflicts of Interpretation' (1986-1987) 27 (4) Va. J. Int'l L. 729, at p. 731; Ferrari, F. 'Gap- filling and interpretation of the CISG: overview of international case law' (2003) 2 IBLJ 221; Munday, R. J. C. ' The Uniform Interpretation of International Conventions' (1978) 27 (2) ICLQ 450; Arvind, T. T. 'The "Transplant effect" in harmonization' (2010) ICLQ 65; Evans, M. 'Uniform Law: A Bridge Too Far?' (1995) 3 (1/2) Tul. J. Int'l & Comp. L. 145, at pp. 149- 150; Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 159-161.

207. 1962 A.C. 446, at p. 471.

208. Wigmore, J. H. 'The International Assimilation of Law Its Needs and Its Possibilities from an Amercian Standpoint' (1915-1916) 10 (6) III. L. Rev. 385, at p. 390.

209. Ibid. at p. 391.

210. Bridge, M. 'Uniform and Harmonized Sales Law: Choice of Law Issues' 905, at p. 908. Available at <http://cisgw3.law.pace.edu/cisg/biblio/bridge.pdf>.

211. Gopalan, S. 'Creation of International Commercial Law: Sovereignty Felled?' (2004) 5 San. Diego Int'l L. J. 267, at p. 295.

212. Art. 32, Vienna Convention on the Law of Treaties (1969) Done at Vienna on 23 May 1969. Entered into force on 27 January 1980. Avaialble at <http://untreaty.un.org/ilc/texts/instruments/english/conventions/1_1_1969.pdf>.

213. Abnett v. British Airways PLC. Sidhu and Others, 1997 1 All ER 192; Gatoil Int'l Inc. v. Arkwright- Boston Mfrs. Mut. Marine Ins. Co., 1985 S.C. 1 (HL). For further commentary see Sturley, M. F. 'International Uniform Laws in National Courts: The Influence of Domestic Law in Conflicts of Interpretation' (1986-1987) 27 (4) Va. J. Int'l L. 729, at p. 740.

214. [1981] A.C. 251, at pp. 281-282.

215. [1978] A.C. 141, at p. 152.

216. Air France v. Saks, 470 U.S. 392, at p. 400 (1985).

217. 525 U.S. 155 (1998).

218. For conflicting interpretation as to the meaning of the term 'Package', see Vance, C. and Sassoon, D. M. 'The Container as a Package Controversy: A Comparative Jurisprudential Review' (1981) 16 Eur. Transport L. 315; For conflicting interpretation as to the enforceability of a choice of forum clause in a bill of lading, see Mann, F. A. 'Uniform Statutes in English Law' (1983) 3 LQR 376, at pp. 401-404; Sturley, M. F. 'International Uniform Laws in National Courts: The Influence of Domestic Law in Conflicts of Interpretation' (1986-1987) 27 (4) Va. J. Int'l L. 729, at p. 737; Andersen, C. B. 'The Uniform International Sales Law and the Global Jurisconsultorium' (2004-2005) 24 (2) J. L. & Com. 159, at p. 162; Ferrari, F. 'Homeward trend and lex forism in international sales law' (2009) IBLJ 333.

219. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 217.

220. Another important organization is the Organization for Economic Cooperation and Development (OECD). Available at <http://www.oecd.org/>. For its historical background see Smith, K. and Taylor, I. The United Nations Conference on Trade and Development (Illustrated ed. Taylor & Francis, 2007), chap. 1; Koul, A. K. The legal Framework of UNCTAD in World Trade (1st ed. Kluwer Academic Publishers 1977), chap. 2.

221. Available at <http://www.unctad.org/Templates/Page.asp?intItemID=1530&lang=1>.

222. Avaialble at <http://www.unctad.org/Templates/Page.asp?intItemID=3357&lang=1>.

223. Available at <http://portal.unesco.org/>. See Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007) at p. 217.

224. Art. 1 of the UNESCO Constitution.

225. Available at <http://www.unesco.org/new/en/member-states/countries/>.

226. Available at <www.icao.int/>.

227. Available at <www.icao.int/>.

228. Sand, P. H. 'Air Carriers' Limitation of Liability and Air Passengers' Accident Compensation Under the Warsaw Convention' (1961-1962) 28 (3) J. Air L. & Com. 260; Grems, K. C. 'Punitive Damages Under the Warsaw Convention: Revisiting the Drafters' Intent' (1991-1992) 41 (1) Am. U. L. Rev. 141, at p. 145; Sheinfeld, D. I. 'Form Warsaw to Tenerife: A Chronological Analysis of the Liability Limitations Imposed Pursuant to the Warsaw Convention' (1979- 1980) 45 (3) J. Air L. & Com. 653; Goldhirsch, L. B. The Warsaw Convention Annotated: A Legal Handbook (2nd ed. Kluwer Law International 2000); Orr, G. W. 'The Warsaw Convention' (1945) 31 (2) Virginia L. Rev. 423; Beaumont, K. M. 'Need for Revision and Amplification of the Warsaw Convention' (1949) 16 (4) J. Air L. & Com. 395; Mankiewicz, R. H. 'Warsaw Convention: The 1971 Protocol of Guatemala City' (1972) 20 (2) AJCL 335.

229. See art.1 of the Montreal Convention (1999). Available at <http://www.montrealconvention.org/>.

230. Entered into force 4th Nov 2003. See Schaffer, R.; Filiberto, A.; Earle, B. International Business Law and its Environment (7th ed. South-Western Cengage Learning 2009), at pp. 191-192; Leon, P. M. D. and Eyskens, W. 'The Montreal Convention: Analysis of Some Aspects of the Attempted Modernization and Consolidation of the Warsaw System' (2000- 2001) 66 (3) J. Air L. & Com. 1155, at p. 1156; Batra, J. C. 'Modernization of the Warsaw System- Montreal 1999' (1999-2000) 65 (3) J. Air L. & Com. 429; Sullivan, G. R. 'The Codification of Air Carrier Liability by International Convention' (1936) 7 (1) J. Air L. 1; Moore, L. 'The New Montreal Liability Convention, Major Changes in International Air Law: An End to the Warsaw Convention' (2001) 9 Tul. J. Int'l & Comp. L. 223; Cheng, B. 'A New Era in the Law of International Carriage by Air: From Warsaw (1929) to Montreal (1999)' (2004) 53 (4) ICLQ 833.

231. Art. 1 of Convention.

232. Available at <http://www.unidroit.org/dynasite.cfm?dsmid=103284>.

233. Art. 1, Statute of the Hague Conference on Private International Law (Entered into force 15 July 1955). See Reese, W. L. M. 'The Hague Conference on Private International Law: Some Observations' (1985) 19 (3) Int'l L. 881; Droz, G. A. L. and Dyer, A. 'The Hague Conference and the Main Issues of Private International Law for the Eighties' (1981) 3 (1) Nw. J. Int'l & Bus. 155; Lipstein, K. 'One Hundred Years of Hague Conferences on Private International Law' (1993) 42 (3) ICLQ 553; Bernasconi, C. 'Some Observations from the Hague Conference on Private International Law' (2007) 101 Am. Soc'y Int'l L. Proc. 349, at pp. 350- 353.

234. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 202; Nadelmann, K. H. 'United States Joins the Hague Conference on Private International Law: A History with Comments' (1965) 30 (2) L. & Contemp. Probs. 291, at p. 292.

235. Nadelmann, K. H. 'United States Joins the Hague Conference on Private International Law: A History with Comments' (1965) 30 (2) L. & Contemp. Probs. 291, at p. 292. For criticism see Phillimore, The Desirability of the British Government Taking Part in the Legal Conferences at The Hague on Private International Law, in International Law Association, Report of the 21ST, Antwerp 1903, Conference 80 (1904). For support of this policy see Baldwin, S. E. 'Recent Towards Agreement on Rules to Prevent a Conflict of Laws' (1904) 17 (6) Harv. L. Rev. 400, at p. 403.

236. Preamble of the Statute of the Hague Conference on Private International Law (Entered into force 15 July 1955). See Nadelmann, K. H. 'United States Joins the Hague Conference on Private International Law: A History with Comments' (1965) 30 (2) L. & Contemp. Probs. 291, at p.296; Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 202.

237. Available at <http://www.hcch.net/>. See Goode, R., ibid. UK is a Member to the Statute since 1955.

238. Nadelmann, K. H. 'United States Joins the Hague Conference on Private International Law: A History with Comments' (1965) 30 (2) L. & Contemp. Probs. 291, at p. 296.

239. Available at <http://www.hcch.net/>.

240. Available at <http://www.hcch.net/>.

241. Available at <http://www.hcch.net/index_en.php?act=states.listing>.

242. Available at <http://www.hcch.net/index_en.php?act=states.listing>.

243. Available at <http://www.unidroit.org/dynasite.cfm?dsmid=103284>. For comprehensive history of UNIDROIT see Peters, L. International Institute for the Unification of Private Law (UNIDROIT) in Roger, B. International Encyclopaedia of Laws-Intergovernmental Organizations (Supp 23 ) 9Kluwer, The Hague, 2005), at pp. 11-13. See also Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 203; Farnsworth, E. A. 'UNCITRAL- Why? What? How? When?' (1972) 20 (2) AJCL 314; Faure, M. and Walt, A. Globalization and Private Law: The Way Forward (1st ed. Edward Elgar Publishing Ltd 2010), at p. 101.

244. Hofmann, N. 'Interpretation Rules and Good Faith as Obstacles to the UK's Ratification of the CISG and to the Harmonization of Contract Law in Europe' (2010) 22 (1) Pace Int'l L. Rev. 145, at p. 149Available at <http://digitalcommons.pace.edu/pilr/vol22/iss1/4>.

245. Ibid.

246. Convention on Substantive Rules for Intermediated Securities (2009); Luxembourg Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Railway Rolling Stock (2007); Convention on International Interests in Mobile Equipment (2001); Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment (2001); Convention on Stolen or Illegally Exported Cultural Objects (1995); Convention on International Factoring (1988); Convention on International Financial Leasing (1988); Convention on Agency in the International Sale of Goods 1983); Convention providing a Uniform Law on the Form of an International Will (1973); International Convention on Travel Contracts ( 1970).

247. Gabor, F. A. Emerging Unification of Conflict of Laws Rules Applicable to the International Sale of Goods: UNCITRAL and the New Hague Conference on Private International Law (1985-1986) 7 (4) Nw. J. Int'l L. & Bus. 696, at p. 697.

248. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 205.

249. UK has adopted ULIS and ULFIS on 18 Aug 1972 and 18 Aug 1972 respectively. Available at <http://www.unidroit.org/english/implement/i-64ulis.pdf>.

250. Bridge, M. The International Sale of Goods: Law and Practice (1st ed. Oxford University Press 1999), at p. 41.

251. Gabor, F. A. 'Emerging Unification of Conflict of Laws Rules Applicable to the International Sale of Goods: UNCITRAL and the New Hague Conference on Private International Law' (1985-1986) 7 (4) Nw. J. Int'l L. & Bus. 696, at p. 699; Rabel, E. 'Hague Conference on the Unification of Sale Law' (1952) 1 (1 & 2) AJCL 58.

252. Available at <http://www.unidroit.org/dynasite.cfm?dsmid=103284>. See also Convention for the Protection of Cultural Property in the Event of Armed Conflict (1954); European Convention on Establishment (1955); Benelux Treaty on Compulsory Insurance against Civil Liability in respect of Motor Vehicles (1955); 1956 Convention on the Contract for the International Carriage of Goods by Road (1956) ;1958 Convention concerning the recognition and enforcement of decisions relating to maintenance obligations towards children (1958); 1959 European Convention on Compulsory Insurance against Civil Liability in respect of Motor Vehicles (1959); 1962 European Convention on the Liability of Hotel-keepers concerning the Property of their Guests (1962); Convention on the Registration of Inland Navigation Vessels (1965).

253. (Resolution 2205(XXI) of 17 December 1966). Available at <http://www.uncitral.org/>; <http://www.uncitral.org/pdf/english/texts/general/06-50941_Ebook.pdf>; <http://www.jus.uio.no/lm/uncitral.2205-xxi/doc.html>. For details see Honnold, O. and Flechter, H. M. Uniform Law for International Sales Under the 1980 United Nations Convention (4th ed. Kluwer Law International 2009), at p. 6; See Murray, C. Schmitthoff's Export Trade: The Law and Practice of International Trade (11th ed. Sweet & Maxwell 2007), at pp. 834- 837.

254. See General Assembly resolution 2205 (XXI), sect. II, para. 1.

255. UK and India both are Member States of UNCITRAL. For full text see its website <http://www.uncitral.org/pdf/english/texts/general/06-50941_Ebook.pdf>.

256. General Assembly resolution 2205 (XXI), sect. II, para. 8. Available at <http://www.uncitral.org/uncitral/en/about_us.html>; <http://www.uncitral.org/pdf/english/texts/general/06-50941_Ebook.pdf>.

257. Available at <http://www.uncitral.org/pdf/english/texts/general/06-50941_Ebook.pdf>.

258. See also the United Nations Convention on the Carriage of Goods by Sea (1978); the United Nations Convention on International Bills of Exchange and International Promissory Notes (1988); the United Nations Convention on the Liability of Operators of Transport Terminals in International Trade (1991); the United Nations Convention on Independent Guarantees and Stand-by Letters of Credit (1995); the United Nations Convention on the Assignment of Receivables in International Trade (2001); and the United Nations Convention on the Use of Electronic Communications in International Contracts (2005). Available at <http://www.uncitral.org/pdf/english/texts/general/06-50941_Ebook.pdf>.

259. Available at <http://www.uncitral.org/pdf/english/texts/general/06-50941_Ebook.pdf>, at p. 15 For further commentary see Hoellering, M. F. 'UNCITRAL Model Law on International Commercial Arbitration' (1986) 20 (1) Int'l L. 327; Hermann, G. 'The UNCITRAL Arbitration Law: a Good Model of a Model Law' (1998) 3 (1) Unif. L. Rev. 483, at p. 485; Kaufmann- Kohler, G. 'Soft Law in International Arbitration: Codification and Normatively' (2010) J. Int'l Dispute Settlement 283, at pp. 291-293.

260. Available at <http://www.uncitral.org/pdf/english/texts/general/06-50941_Ebook.pdf>. at p. 15.

261. See the Preamble of Act.

262. Available at <http://www.uncitral.org/uncitral/en/case_law.html>.

263. Available at <http://www.uncitral.org/uncitral/en/case_law.html>.

264. Available at <http://www.uncitral.org/pdf/english/texts/general/06-50941_Ebook.pdf>. at p. 18-19

265. Loquin, E. and Ravillon, L. Informal Sources of International Business Law (2011) Int'l Bus. L. J. 342, at p. 343.

266. See Sono, K. 'UNCITRAL and the Vienna Sales Convention' (1984) 18 (1) Int'l L. 7, at p. 10; Sanders, P. 'Procedures and Practices under the UNCITRAL Rules' (1979) 27 (2/3)AJCL 453; Dore, I. I. Arbitration and Conciliation under the UNCITRAL Rules: A Textual Analysis (1st ed. Kluwer Academic Publishers 1986), Chap. 4; Dietz, J. P. 'Introduction: Development of the UNCITRAL Arbitration Rules' (1979) 27 (2/3) AJCL 449, at pp. 451-452; Thompson, T. W. 'UNCITRAL Arbitration Rules' (1976) 17 (1) Harv. Int'l L. J. 141; McNerney, M. E. and Esplugues, C. A. 'International Commercial Arbitration: The UNCITRAL Model Law' (1986) 9 B. C. Int'l & Comp. L. Rev. 47; Loquin, E. and Ravillon, L. 'Informal Sources of International Business Law' (2011) Int'l Bus. L. J. 342, at p. 343.

267. Available at <http://www.uncitral.org/uncitral/en/uncitral_texts/arbitration/1980Conciliation_rules.html>.

268. Art. 1, UNCITRAL Conciliation Rules. For full text see <http://www.uncitral.org/pdf/english/texts/arbitration/conc-rules/conc-rules-e.pdf>.

269. Available at <http://www.uncitral.org/uncitral/en/tac/technical_assistance.html#activities>.

270. Available at <http://www.uncitral.org/uncitral/en/tac/coordination.html>. For further commentary see Sono, K. UNCITRAL and the Vienna Sales Convention (1984) 18 (1) Int'l L. 7, at p. 8.

271. Art. 1 of the Constitution of ICC. Availalbe at <http://www.iccwbo.org/uploadedFiles/ICC_Constitution_EN_June_2011.pdf>.

272. Preamble to the Constitution of the ICC. Availalbe at <http://www.iccwbo.org/id93/index.html>. See Loquin, E. and Ravillon, L. 'Informal Sources of International Business Law' (2011) Int'l Bus. L. J. 342, at p. 350; Murray, C. Schmitthoff's Export Trade: The Law and Practice of International Trade (11th ed. Sweet & Maxwell 2007), at pp. 837- 838; Goode, R. 'The new I. C. C. Uniform Rules for Demand Guarantees' (1992) 2 LMCLQ 190.

273. Art. 1(3), ICC Constitution.

274. Available at <http://www.iccwbo.org/id93/index.html>.

275. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 37 and 208.

276. Availalbe at <http://www.letterofcredit.biz/UCP_600.html>

277. Available at <http://www.letterofcredit.biz/UCP_600.html>. See Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 37.; Arkins, J. R. C. 'Snow White v. Frost White: The New Cold War in Banking Law?' (2000) 15 (2) J. Int'l Banking L. 30, at pp. 32- 33.

278. Goode, R. Commercial Law (Butterworths 2004). See Carr, I. International Trade Law, at p. 469.

279. Available at <http://www.iccwbo.org/incoterms/>.

280. Available at <http://www.iccwbo.org/incoterms_history/>. See Reuvid, J. and Sherlock, J. International Trade: An Essential Guide to the Principles and Practice of Export (1st ed. Kogan Page Ltd. 2011), Chap. 15.

281. Huber, P. and Mullis, A. The CISG: A New Textbook for Students and Practitioners (1st ed. Sellier European Law Publishers 2007), at pp. 2- 4.

282. For commentary see Murray, C. Schmitthoff's Export Trade: The Law and Practice of International Trade (11th ed. Sweet & Maxwell 2007), at pp. 852- 856; Bridge, M. 'Law for International Sale of Goods' (2007) 37 H. K. L. J. 17.

283. Lookofsky, J. 'Loose Ends and Contorts in International Sales: Problems in the Harmonization of Private Law Rules' (1991) 39 AJCL 403.

284. Zeller, B. CISG and the Unification of International Trade Law (1st ed, Routledge- Cavendish 2007), at p. 94; Krebs, T. 'Harmonization and How not to do it: Agency in the UNIDROIT Principles of International Commercial Contracts 2004' (2009) LMCLQ 57, at p. 62.

285. Bridge, M. G. 'Uniformity and Diversity in the Law of International Sale' (2003) 15 Pace Int'l L. Rev. 55, at p. 56.

286. Callaghan, J. J. 'U. N. Convention on Contracts for the International Sale of Goods: Examining the Gap- Filled Role of CISG in Two French Decisions' (1994- 1995) 14 J. L. & Com. 183, at p. 185; Honnold, J. O. and Flechtner, H. M. Uniform Law for International Sales Under the 1980 United Nations Convention (4th ed. Kluwer Law International 2009)), at pp. 47- 56.

287. Amato, P. 'U. N. Convention on Contracts for the International Sale of Goods- The Open Price Term and Uniform Application: An Early Interpretation by the Hungarian Courts' (1993- 1994) 13 J. L. & Com. 1, at p. 3; Farnsworth, E. A. 'The Vienna Convention: History and Scope' (1984) 18 (1) Int'l L. 17.

288. Winship, P. 'Domesticating International Commercial Law: Revising U.C.C. Article 2 in Light of the United Nations Sakes Convention' (1991- 1992) 37 (1) Loy. L. Rev. 43, at p. 46.

289. Bell, K. 'The Sphere of Application of the Vienna Convention on Contracts for the International Sale of Goods' (1996) 8 (1) Pace Int'l L. Rev. 237, 238.

290. Felemegas, J. An International Approach to the United Nations Convention on Contracts for the International Sale of Goods'(1980) as Uniform Sales Law (1st ed. Cambridge 2007), at p. 1.

291. Murphy, M. T. 'United Nations Convention on Contracts for the International Sale of Goods: Creating Uniformity in International Sales Law' (1988- 1989) 12 (4) Fordham Int'l L. J. 727, at p. 750.

292. Porsch, On the Law of International Sale of Goods: An Introduction, in Survey of the International Sale of Goods 3 (1986). See also Murphy, M. T. 'United Nations Convention on Contracts for the International Sale of Goods: Creating Uniformity in International Sales Law' (1988- 1989) 12 (4) Fordham Int'l L. J. 727, at p. 729.

293. Gabor, F. A. 'Emerging Unification of Conflict of Laws Rules Applicable to the International Sale of Goods: UNCITRAL and the New Hague Conference on Private International Law' (1985- 1986) 7 (4) Nw. J. Int'l L. 7 Bus. 696, at p. 699.

294. Ndulo, M. 'The Vienna Sales Convention 1980 and the Hague Uniform Laws on International Sale of Goods 1964: A Comparative Analysis' (1989) 38 ICLQ 1.

295. Available at <http://www.unidroit.org/english/principles/contracts/principles2010/blackletter2010-english.pdf>.

296. Garro, A. M. 'The Gap- Filling Role of the UNIDROIT Principles in International Sales Law: Some Comments on the Interplay Between the Principles and the CISG' (1994- 1995) 69 (5) Tul. L. Rev. 1149, at p. 1166; Bonell, M. J. 'The CISG European Contract Law and the Development of a World Contract Law' (2008) 54 AJCL 1, at p. 16; Schwenzer, I. and Hachem, P. 'The CISG- Successes and Pitfalls' (2009) 57 (2) AJCL 457, at p. 461; Kronke, H. 'The UN Sales Convention, The UNIDROIT Contract Principles and the Way Beyond' (2005- 2006) 25 (1) J. L. & Com. 451, 456.

297. 1999/44/EC of European Parliament and of the Council. Available at <http://eur-lex.europa.eu/>.

298. Schwenzer, I. and Hachem, P. 'The CISG- Successes and Pitfalls' (2009) 57 (2) AJCL 457, 462.

299. Ibid.

300. Ibid.

301. Available at <http://www.jus.uio.no/lm/norway.sog.act.1988/>.

302. For further commentary see Schwenzer, I. and Hachem, P. 'The CISG- Successes and Pitfalls' (2009) 57 (2) AJCL 457, 463.

303. Available at <http://www.novexcn.com/contract_law_99.html>.

304. Folsom, R.; Gordon, M. W.; Spanogle, J. A. International Business Transactions (6th ed. West Group 2000), at pp. 55- 56; Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at pp. 259- 260.

305. Art. 55 of the CISG.

306. U. C. C. 2- 204 (3) (1978).

307. Kastely, A. H. 'Unification and Community: A Rhetorical Analysis of the United Nations Sales Convention' (1987- 1988) 8 Nw. J. Int'l L. & Bus. 574.

308. Art. 2.

309. Bridge, M. The International Sal of Goods: Law and Practice (1st ed. Oxford 1999), at p. 56. See also Huber, P. And Mullis, A. The CISG: A New Textbook for Students and Practitioners (1st ed. Sellier European Law Publishers 2007), at pp. 7- 8.

310. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 273.

311. Available at <http://www.uncitral.org/pdf/english/texts/sales/cisg/CISG.pdf>.

312. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 273; Gebauer, M. 'Uniform Law, General Principles and Autonomous Interpretation' (2000) 5 (4) Unif. L. Rev. 683, at pp. 686- 687; Flechtner, H. M. 'The Several Texts of the CISG in A Decentralized System: Observations on Translations, Reservations and Other Challenges to the Uniformity Principle in Article 7(1)' (1997- 1998) 17 J. L. & Comm. 187; Ferrari, F. 'CISG Case Law: A New Challenge for Interpreters' (1997- 1998) 17 J. L. & Comm. 245; Koneru, P. 'The International Interpretation of the UN Convention on Contracts for the International Sale of Goods: An Approach Based on General Principles' (1997) 6 Minn. J. Global Trade 105.

313. Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 273; Bailey, J. E. 'Facing the Truth: Seeing the Convention on Contracts for the International Sale of Goods as an Obstacle to a Uniform Law of International Sales' (1999) 32 (2) Cornell Int'l L. J. 273, at pp. 286- 296.

314. Gebauer, M. 'Uniform Law, General Principles and Autonomous Interpretation' (2000) 5 (4) Unif. L. Rev. 683, at p. 687.

315. Gebauer, M. 'Uniform Law, General Principles and Autonomous Interpretation' (2000) 5 (4) Unif. L. Rev. 683, at pp. 684 and 686.

316. Ferrari, F. 'Uniform Interpretation of the 1980 Uniform Sales Law' (1994) 24 (2) Ga. J. Int'l L. 7 Com. L. 183, at p. 200.

317. Note, 'The 1980 Convention on Contracts for the International Sale of goods: Will a Homeward Trend Emerge?' (1986) 21 Texas J. Int'l L. 540.

318. Lookofsky, J. M. and Bernstein, H. Understanding the CISG: A Compact Guide to the 1980 United Nations (3rd ed. Kluwer Law International 2008), at p. 31. See Bonell, M. J. 'International Uniform Law in Practice- Or Where the Real Trouble Begins' (1990) 38 Am. J. Comp. L. 865, at pp. 875- 876.

319. Bonnell, M. J. and Liguori, F. 'The U. N. Convention on the International Sale of Goods: A Critical Analysis of Current International Case Law- 1997 (Part I)' (1997) 2 Unif. L. Rev. 385, at p. 387.

320. Tribunale civile di Cuneo, 31 January 1996, n. 45/96.

321. Bonell, M. J. 'International Uniform Law in Practice- Or Where the Real Trouble Begins' (1990) 38 AJCL 865, at p. 867.

322. Andersen, C. B. 'Uniformity in the CISG in the first Decade of Its Applications' in Fletcher, I. F.; Mistelis, L. A.; Cremona, M. Foundations and Perspectives of International Trade Law (Sweet & Maxwell 2001), at p. 293; Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at pp. 274- 278; Ferrari, F. 'What Sources of Law for Contracts for the International Sale of Goods?' (2005) 25 Int'l Rev. L. & Econ. 314, at pp. 321- 324. Available at <http://www.cisg.law.pace.edu/cisg/biblio/ferrari15.html>; Loewe, R. 'The Sphere of Application of the UN Sales Convention' (1998) 10 Pace Int'l L. Rev. 78 available at <http://www.cisg.law.pace.edu/cisg/biblio/Loewe.html>.

323. Available at <http://www.uncitral.org/pdf/english/texts/sales/cisg/CISG.pdf>.

324. Available at <http://www.uncitral.org/uncitral/en/uncitral_texts/transport_goods/2008rotterdam_rules.html>

325. Hachney, P. 'Is the United Nations Convention on the International Sale of Goods Achieving Uniformity?' (2000- 20001) 61 La. L. Rev. 473.

326. Kastely, A. H. 'Unification and Community: A Rhetorical Analysis of the United Nations Sales Convention' (1987- 1988) 8 Nw. J. Int'l L. & Bus. 574, at p. 577.

327. Kastely, A. H. Ibid., at p. 592.

328. Zeller, B. 'Development of Uniform Laws- A Historical Perspective' (2002) 14 Pace Int'l L. Rev. 163, at p. 168; Bridge, M. G. 'Uniformity and Diversity in the Law of International Sale' (2003) 15 Pace Int'l L. Rev. 55, at p. 70.

329. Goode, R. 'Insularity or Leadership? The Role of the United Kingdom in the Harmonization of Commercial Law' (2001) ICLQ 751, at p. 755; Murray, C. Schmitthoff's Export Trade: The Law and Practice of International Trade (11th ed. Sweet & Maxwell 2007), at p. 835.

330. Hofmann, N. 'Interpretation Rules and Good Faith as Obstacles to the UK's Ratification of the CISG and to the Harmonization of Contract Law in Europe' (2010) 22 Pace Int'l L. Rev. 145, at p. 147.

331. Available at <http://servizi.iit.cnr.it/~crdes/crdes/frames9.htm>.

332. Available at <www.dti.gov.uk>.

333. Available at <http://www.bis.gov.uk/>.

334. Available at <http://bis.ecgroup.net/Search.aspx>.

335. Azzouni, A. 'The Adoption of the 1980 Convention on the International Sale of Goods by the United Kingdom' (2002) available at <http://www.cisg.law.pace.edu/cisg/biblio/azzouni.html#2>; Bridge, M. The International Sale of Goods: Law and Practice (1st ed. Oxford University Press 1999), at p. 39.

336. Williams, A. E. 'Forecasting the Potential Impact of the Vienna Sales Convention on International Sales Law in the United Kingdom' available at <http://cisgw3.law.pace.edu/cisg/biblio/williams.html>.

337. Hofmann, N. 'Interpretation Rules and Good Faith as Obstacles to the UK's Ratification of the CISG and to the Harmonization of Contract Law in Europe' (2010) 22 (1) Pace Int'l L. Rev. 145, at p. 149. Available at: <http://digitalcommons.pace.edu/pilr/vol22/iss1/4>. See Goode, R.; Kronke, H.; Mckendrick, E. Transnational Commercial Law: Text, Cases, and Materials (1st ed. Oxford 2007), at p. 258.

338. Hofmann, N. ibid., at p. 152.

339. Ibid.

340. Goode, R. 'Insularity or Leadership? The Role of the United Kingdom in the Harmonization of Commercial Law' (2001) ICLQ 751, at p. 756.

341. Ibid.

342. Moss, S. 'Why the United Kingdom has not Ratified the CISG' (2005- 2006) 25 J. L. & Com. 483.

343. Forte, A. 'The United Nations Convention on Contracts for the International Sale of Goods: Reason and Unreason in the United Kingdom' (1996- 1997) 26 U. Bt. L. Rev. 51, at p. 58.

344. Kerr, M. 'Modern Trends in Commercial Law and Practice' (1978) 41 (1) MLR 1, at p. 10.

345. Forte, A. 'The United Nations Convention on Contracts for the International Sale of Goods: Reason and Unreason in the United Kingdom' (1996- 1997) 26 U. Bt. L. Rev. 51, at p. 59; Murray, C. Schmitthoff's Export Trade: The Law and Practice of International Trade (11th ed. Sweet & Maxwell 2007), at pp. 554- 555.

346. Moss, S. 'Why the United Kingdom Has Not Ratified the CISG' (2005) 1 J. L. & Com. 485.

347. Lee, R. G. 'The UN Convention on Contracts for the International Sale of Goods: OK for the UK?' (1993) J. Bus. L. 131.

348. Available at <http://www.uncitral.org/pdf/english/texts/sales/cisg/V1056997-CISG-e-book.pdf>.

349. Available at <http://www.legislation.gov.uk/>.

350. Bunge Corporation v. Tradax SA. 1981] 2 All E.R. 513, at p. 545. For details see Williams, A. E. 'Forecasting the Potential Impact of the Vienna Sales Convention on International Sales Law in the United Kingdom' (2000- 2001) available at <http://cisgw3.law.pace.edu/cisg/biblio/williams.html#3>; Hofmann, N. 'Interpretation Rules and Good Faith as Obstacles to the UK's Ratification of the CISG and to the Harmonization of Contract Law in Europe' (2010) 22 (1) Pace Int'l L. Rev. 145, at p. 152. Available at <http://digitalcommons.pace.edu/pilr/vol22/iss1/4>.

351. Hofmann, N. Ibid. at p. 156; Lutz, H. 'The CISG and Common Law Courts: Is There Really a Problem?' (2004) 35 (3) Victoria U. Wellington L. Rev. 711, at p. 715; Kilian, M. 'CISG and Problem with Common Law Jurisdictions' (2001) 10 J. Transnat'l L. 7 Policy 217; Lee, R. G. 'The UN Convention on Contracts for the International Sale of Goods: Ok for the UK?' (1993) JBL 131, at p. 147; Diedrich, F. 'Maintaining Uniformity in International Law Via Automomous Interpretation of Software Contracts and the CISG' (1996) 8 Pace Int'l L. Rev. 303, at p. 311.

352. Scarman, L. 'Ninth Wilfred Fullagar Memorial Lecture: The Common law Judge and the Twentieth Century- Happy Marriage or Irretrievable Breakdown?' (1980- 1981) 7 (1) Monash U. L. Rev. 1, at p. 6.

353. [1978] 1 Lloyd‟s Rep. 119 (Eng.).

354. [1978] 1Lloyd‟s Rep. 119 (Eng.), at p. 123. See Healy, M. P. 'Legislative Intent and Statutory Interpretation in England and the United States: An Assessment of the Impact of Pepper v. Hart' (1999) 35 (2) Stan. J. Int'l L. 231; Ramage, S. Statutory Interpretation in English Law Today (2011) 202 Crim. Law. 1

355. [1980] 2 Lloyd‟s Rep. 295; [1980] All E.R. 696 (Eng.).

356. 2 Lloyd‟s Rep. at 304.

357. Law Reform Committee of the Council, 1980 Convention on Contracts for the International Sale of Goods, Law Society of England and Wales (1981).

358. Rogowska, A. 'CISG in UK: How does the CISG govern the contractual relations of English Businessmen?' (2007) Int'l Com. & Comm. L. Rev. 226, at p. 227; Bridge, M. The International Sale of Goods: Law and Practice (1st ed. Oxford University Press 1999), at p. 39.

359. Bridge, M. Ibid.

360. See Highet, K. The Enigma of the Lex Mercatoria in Lex Mercatoria and Arbitration: A Discussion of the New Law Merchant (T.E. Carbonneau ed.), pp.104-105; Mustill, M. J. 'The New Lex Mercatoria: The First Twenty-Five Years' (1988) 4 Arb. I. 86. Available at <http://tldb.uni-koeln.de>.


©Pace Law School Institute of International Commercial Law - Last updated April 3, 2014
Go to Database Directory || Go to Bibliography
Comments/Contributions