Intb 3355 Final Review Essay

904 Words Apr 17th, 2015 4 Pages
INTB 3355
Spring 2015
Final Exam Review Document

I. Political Forces

1. Political risk
Determinants of political risk a) Conflict and violence – Citizens protesting against their government, Territorial disputes, Disputes based on ethnic, racial, or religious divisions
b) Terrorism and kidnapping – Unlawful acts of violence for a variety of reasons - Ransom, Overthrow government, Release of imprisoned colleagues, Revenge, Punish religious nonbelievers. Situations – Kidnapping for ransom, Paying ransom becomes counterproductive, Countermeasures by industry, Chemical and biological terrorism, Kidnapping as a means of funding terrorist groups, Business executives (local and international) as targets, Insurance, Prevention
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(you need to be able to refer not only to your lecture notes on this case, but also to the video we watched in class and the David vs Goliath reading – both of which are available on Blackboard under Course Content, in the folder for the Legal Forces lecture)

2. International Dispute Settlement * Litigation
Major Problems – Which jurisdiction’s laws should apply? Where will litigation occur?
Solutions – Choice-of-law clause (which law governs), Choice-of-form clause (where disputes will be settled) * Performance of Contracts
Major Problems – Getting other side to perform obligations, No worldwide court has power to enforce decrees, UN International Court of Justice relies on voluntary compliance, International contracts are complicated to enforce
Possible Solutions – UN Convention on International Sale of Goods (CSIG), Private Solutions- Arbitration, an alternative to litigation, Incoterms- the International Chamber of Commerce’s universal trade terminology * United Nations Solutions – The CISG established uniform legal rules to govern the formation of international sales contracts and the rights and obligations of the buyers and seller. * Arbitration – A process, agreed to by the parties to a dispute in lieu of going to court, by which a neutral person or body

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