IB0017 - International Business Environment and International Law

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Summer 2013

Master of Business Administration- MBA Semester 4

IB0017  - International Business Environment and International Law- 4 Credits

(Book ID: B1414)

Assignment- 60 marks

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q1. Discuss the features of international business environment. Why is it necessary to closely analyse the international environment?

( features- 5 marks, importance- 5 marks) 10 marks

Answer :  Features of international business environment:

The international business and trade environment is the backbone of global economy. Trade agreements to buying and selling goods and services internationally gives manufacturers in various countries the opportunity to expand beyond the domestic market.

Q2. What is the role of WTO in promoting trade? Explain in brief the various agreements of WTO.

( role- 3 marks, agreements- 7 marks) 10 marks

Answer :   Role of WTO in promoting trade:

One of the most important functions of WTO is to serve as a forum for trade negotiations since international negotiations are very technical, detailed and politically sensitive. Furthermore their system helps to keep the peace which is achieved by helping trade to flow smoothly plus an international confidence and cooperation are created and reinforced.

Q3. What do you mean by Inco terms? Discuss the group of contracts found under Incoterms.

( Incoterms- 3 marks, Incoterms contracts- 7 marks) 10 marks

Answer :  Inco terms :

International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) that are widely used in International commercial transactions or Procurement processes. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods.

Q4. Explain the contract of sale of goods. Describe its essential elements.

( meaning- 4 marks, essential elements- 6 marks) 10 marks

Answer : Contract of sale of goods:

The Sale of Goods Contract is used as an agreement between a buyer and seller, in which the seller states the quantity, date, and delivery of the goods. The Sale of Goods Contract provides a template for purchases made by a business and accounts for risk of loss. The contract is used when goods are bought or sold. This contract is customizable for your company's specific usage. Its main characteristics are :

Q5. How is licensing helpful in entering a foreign market? Discuss the laws of international licensing contract.

( meaning-4 marks, laws- 6 marks) 10 marks

Answer:  Role of licensing in entering a foreign market :

Licensing is a great way to penetrate a new foreign market. Licensing is a contractual arrangement whereby the firm, the licensor, offers proprietary assets to a foreign company, the licensee, in exchange for royalty fees. Let’s say you are unable to export to an overseas market due to complex rules and regulations or because the transportation cost is prohibitive.

Q6. What are the methods of international dispute resolution? Discuss the meaning and role of arbitration.

( methods- 5 marks, arbitration- 5 marks) 10 marks

Answer :  Methods of international dispute resolution:

Methods of dispute resolution include:

1. Lawsuits (litigation):

A lawsuit or (very rarely) "suit in law" is a civil action brought in a court of law in which a plaintiff, a party who claims to have incurred loss as a result of a defendant's actions, demands a legal or equitable remedy. The defendant is required to respond to the plaintiff's complaint.

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Send your semester & Specialization name to our mail id

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