The paper reviews the principles of English commercial law comparing them with UNIDROIT principles of international commercial contracts and Lando principles of European contract law. Conclusions are made that certain areas of English law need updating.
The paper examines a law case related to the contract between two companies about the conditions of payment for the delivery of property. The facts of the case are presented; legal aspects of propriety rights are considered with references to the Retention of Title clause (ROT), insolvency act, the Treaty of Rome, etc. Inconsistencies in the codification of Commercial Law are pointed out arguing the need for reform.
The paper examines the principles of commercial law (CL) focusing on agency as a fundamental part of modern CL. The concept of agency is explored using relevant examples of the role of agency in contracts and commercial transactions.
The paper examines a law case of the contract of sale involving the English Bank, addressing the issues of documentary credits (DC) in the UK. Securities offered by DC are discussed highlighting the requirements needed to prove that a fraud has occurred. Legislation on DC is reviewed including the articles from the Uniform Customs and Practice for Documentary Credits, 2007 (UCP); references are made to related law cases.
The paper examines the duty of confidentiality (DoC) describing the motivations behind it and reviewing academic literature on banking confidentiality. The discussion centres around the need to maintain the balance between transparency through the dissemination of information, on the one hand, and respect for the customer's DoC, on the other hand. It is argued whether the DoC in modern banking should be considered a rule or an exception from the rule. References are made to the case of Tournier and the qualifications set out to the DoC, the issues of money laundering, disclosures of credit information, etc.
The paper examines why commercial parties should choose the law of England and Wales in their choice of law clauses. Aspects of the lex mercatoria are considered that make it suitable for interpretation by common law judges.
The paper examines a case of selling property through an estate agent reviewing the principles of agency law and advising the client of the liabilities she may have towards the third parties her agent has dealt with. It is argued whether the agent always acts solely and absolutely for the principles of those who appointed him/her.
The paper examines the issue of goods delivery as a necessary condition for contractual agreement analysing a case related to the breach of condition. The provisions of the Sale of Goods Act (SGA) 1979 are reviewed and applied to the case under analysis arguing whether the client is liable for the breach of section 12 of the SGA and the non delivery of goods.
The paper examines the case of the breach of contract on the supply of services. Related legislation is reviewed including Supply of Goods and Services Act 1982, Trade Descriptions Act 1968, Business Names Act 1985, Enterprise Act 2002, etc. Events leading to problems in contracts and available remedies are analysed with reference to concrete court cases.
This essay answers four questions relating to bills of lading and carriage of goods by sea.
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