Global Sales And Contract Law Case Study

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World Trade Organisation (WTO) figures for 2008 indicate that worldwide merchandise export trade amounted to just over AU$18 billion and the import trade to AU$18.5 billion. These figures are roughly 100 times more than 45 years ago (Global Sales and Contract Law, 2012). At the dawn of the 21st century when commerce is more integrated than ever before and jurisdictions are attempting to make themselves more commercially flexible, exercises aimed at rendering the common law less opaque and creating a common legal grammar, if not a common substantive law, should not be unduly discarded. So why has Australia taken such a ‘piecemeal’ approach to the application of this evolving transnational legal architecture? This commentary notes some key considerations …show more content…
lawyers). And encourage the importance of building a wide consensus for harmonised changes amongst other stakeholders (AAL Response to Discussion Paper, 2012). There has been little appetite for a law reform of Australian contract law amongst in-house lawyers (ACLA). The legal profession has appeared content to live with complexity, and divergence, in an attitude of “if it ain’t broke, don’t fix it!” Undoubtedly, the successive waves of legislative reform in relation to other subject matter such as consumer law, credit codes, tenancies, and securities law have been enough to occupy the profession and has most probably dampened the capacity for change to something as fundamental as contract law (Law Wars: Australian Contract Law Reform vs CISG vs CESL, …show more content…
SME and SMDE recommend that consideration be given to codifying the established principles of contract and commercial law to develop legislation similar to the Uniform Commercial Code adopted by the United States. “The proposal will benefit small and medium size businesses by promoting greater certainty, efficiency and understanding about the principles of contract formation and enforcement” (Submission by the Small Business Development Corporation,

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