The book The Study of International Commercial Law: This is David Ricardo and Donald M. McRae by various author which you can download freely in pdf format. However, the best business decision for a client is not to commit, but simply to walk away from a deal. As a caveat, business attorneys should be careful not to obstruct a deal by fighting over points that a client (after being briefed on the point) does not really consider to be a concern. Don’t let “winning” in negotiations get in the way of making a deal that works for a client.
There are many basic business and legal issues that need to be considered when contemplating this type of transaction. The fact that this transaction involves the international sale of goods complicates matters considerably. As you read the following pages, try to anticipate what each party’s true goals are in this potential transaction, and try to structure an agreement to meet those goals. Anticipate all the potential pitfalls that could get in the way of a successful business venture. This scenario will be reviewed towards the end of this chapter and throughout this book.
|Author of Book||David Ricardo and Donald M. McRae|
Overview of The Study of International Commercial Law Pdf FreeAccording to David Ricardo and Donald M. McRae Before getting into the business and legal considerations that lawyers involved in international business transactions face, it is important to understand some basic background on international business. Consequently, this section will focus on: (A) the competing theories that underlie international trade, (B) the protectionist measures that nations take to reduce foreign competition, (C) the institutions that support international trade in general, and (D) the sources of law that govern international business transactions.
Economists and politicians around the world have long debated whether international trade is positive or negative. (1.) Proponents of international trade argue that international trade can increase the overall wealth of all the countries that participate in it, instead of enriching one at the expense of the others. 6 However, (2.) others insist that international trade can harm nations, citing phenomena such as unemployment and the decline of the industry as a result of foreign competition, 7 among other arguments. These theorists believe that some level of protectionism is best for a country. As you think about international trade, consider for yourself what arguments persuade you.
Theories that support free trade
Economists’ explanations of why international trade is beneficial go back to (a.) Adam Smith and his seminal work, The Wealth of Nations, published in 1776,8 and (b.) David Ricardo and his work, The principles of political economy. and Taxation, published in 1817.9 To illustrate their theories, these economists simplified the complex world we live in using models based on a world with two countries making two products. After analysing their models, Smith and Ricardo came to the clear conclusion that international trade was beneficial to both trading nations.
Disclosure: As an Amazon Associate, I earn from qualifying purchases if you buy from my given links