Legal Issue Of World Trade Organization Essay

1570 Words Oct 12th, 2014 7 Pages
LEGAL ISSUE
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 from a comparative, practical and global perspective, highlighting the relevance of the CISG, and diverse instruments such as the UNIDROIT Principles and the Swiss Proposal. (Australia 's Proposed Exercise in Contract Law Reform, 2013)

STAKEHOLDERS
In 2012, the Australian Federal Attorney-General issued a discussion paper exploring the possibility of reforming Australian contract law. The discussion paper noted the criticism of the Australian Academy of Law (AAL), the Australian Corporate Lawyers Association (ACLA), nation-wide businesses including Real Estate Institute of Australia and Master Builders Australia, small business commissions such as SBDC and SME, and our primary international trading partners,…

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