The harmonization efforts in areas of commercial law
There are many pitfalls which must be avoided if an international organisation is to successfully harmonise any area of substantive international commercial law. Fortunately, international organisations have become much more adept at ensuring that these pitfalls are avoided. We can, as a result, be confident that international instruments created in the last twenty years and those likely to be created in the future will achieve the aims that their drafters and sponsors intend for them”.
Critically examine this statement by reference to the harmonisation efforts in two substantive areas of commercial law you have studied (for example, international contracts, international sales, international bank instruments, carriage of goods by sea, security interests) and evaluate whether the statement is accurate, justifying your conclusions and ensuring that your reasoning is supported by reference to appropriate primary and secondary legal material/resource.
Sample Solution
Since World War II, international trade has grown exponentially and with it the importance of international law. With the increased business between companies in different nations, the need for increased harmonization of commercial laws has become apparent. Knowledge of international commercial law has become important for the transactional lawyer, even those outside major metropolitan areas. One of the overarching goals of the European Union is the harmonization of private law as part of the development of the internal market. The acquis communautaire refers to the body of European Union law that must be adopted by each Member State upon joining the European Union.