How comprehensive and effective is the legal regime for international Essay

How comprehensive and effective is the legal regime for international sales today Is there any further need for harmonisation in this area of law - Essay Example International conventions are not codes, hence they do not cover a complete area of law and any unification that takes place can best be done on the basis of harmonization. During the first half of the twentieth century, legal systems were nationalized and private international law mainly sought to achieve the localization of issues and disputes, while conflict of laws also served this purpose. But during the later half of the 20th century, more instruments have emerged that have harmonized commercial law systems, and it appears that a new conflict of laws system may be needed. Earlier legal systems focused upon maintaining national identity, but this is yielding to a tendency to adopt internationally recognized standards or harmonized law. International trade law became distinguished from domestic law in that it applied to international export transactions, whether of goods or services. While domestic transactions fall within the province of national law, international trade is instead focused upon moving away from the fetters of national law in order to develop a common, international consensus. The modern perception of the law of international trade has been defined by Schmitthoff, who stated: â€Å"It is a remarkable fact - as remarkable as the world-wide acceptance of the rule of law and the universal acceptance of corporateness - that the law of international trade shows a striking similarity in all national legal systems.†2 While similarity in legal systems may not necessarily equate to uniformity, the use of a functional comparative approach leads to convergence in legal systems which is akin to uniformity. On this basis, applying Schmutthioff’s views, that conflict of laws is the factor that leads to the applicability of international trade law rules3. The law of international trade includes a spectrum of business activity, primarily related to the export

Poster & powerpoint for business environment Essay

Poster & powerpoint for business environment - Essay Example Interestingly, gold is among the few elements that cannot lose its lustre due to exposure to moisture or air. An element that tarnishes becomes less valuable. Additionally, in can conduct electricity and can also be modified into different shapes (Kettell, 2002). Gold has been used as jewellery for a very long time. A large quantity of gold mined is as for decoration purposes. It is that 78% of the gold that is mined in the world is used produce personal ornaments such as bracelets, rings and necklaces. One of the attributes that make gold an ideal element to manufacture ornaments is lustre. Gold is yellow in colour something that makes it more attractive for decorations. Consequently, is used to create durable ornaments. In addition, some communities have adopted the use of gold ornaments as part of their culture (Howard, 2009). Given that gold is highly valued, financial institutions use it as collateral. Banks and other financial institutions use gold a medium of exchange. The concept of using gold as a medium of exchange started more than 6000 years ago. In the ancient days, snippets of gold and silver were used as means of transaction (Hill, 1999). Additionally, gold is widely used in the manufacture of electronic equipment. It helps prevent electronic equipment from developing malfunctions that arises from corrosion of components used to produce electronic equipment (Uhaj, 2009).It has been established that electronic devices made from gold lasts longer than those designed using other elements. However, one of the challenges of using gold in the production of electronic devices is that the part is rapidly becoming depleted (Friedberg et al., 2009). Australia is among the largest gold producers in the whole world. In the year 2008, the country was ranked as the second largest gold producer globally. More than 75% of the gold produced from Australia comes from the Western side of the country. The 75% of gold from the region accounts for 4,500 tonnes