{"title":"19. An introduction to international sales and documentation","authors":"E. Baskind, Greg Osborne, Lee S. Roach","doi":"10.1093/he/9780198729358.003.0019","DOIUrl":"https://doi.org/10.1093/he/9780198729358.003.0019","url":null,"abstract":"This chapter identifies what amounts to an international sale, discusses the ways in which the nature of the law of international sales of goods differs from domestic sales, and explores how documents are used to deal with some of the legal risks associated with contracts involving international deliveries. It then looks at a typical international sale in outline, before focusing in detail on how the bill of lading, perhaps the most characteristic document used in international sales, operates. In a documentary sale, the mechanics of the completion of the sale is effected by delivery of documents both by the seller, with documents relating to the goods, and by the buyer, with documents representing payment.","PeriodicalId":80970,"journal":{"name":"Commercial law journal","volume":"100 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85838517","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"24. Documentary payments","authors":"E. Baskind, Greg Osborne, Lee S. Roach","doi":"10.1093/he/9780198729358.003.0024","DOIUrl":"https://doi.org/10.1093/he/9780198729358.003.0024","url":null,"abstract":"This chapter is divided into two main parts. First, it aims to provide an introduction to the concept of an important piece of property called an instrument, principally by focusing on one specific example: the bill of exchange. Second, the chapter considers a bank payment mechanism called the letter of credit, especially in conjunction with bills of exchange. Bills of exchange, of which cheques are a particular type, although declining in importance in domestic sales, remain important in international sales. While bills of exchange are not the only instruments, and letters of credit are not the only mechanism supporting the financing of international trade, focusing on these two important commercial documents makes it possible to obtain a good understanding of the types of legal issues involved in documentary payments.","PeriodicalId":80970,"journal":{"name":"Commercial law journal","volume":"7 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83751874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"20. International trade terms","authors":"E. Baskind, Greg Osborne, Lee S. Roach","doi":"10.1093/he/9780198729358.003.0020","DOIUrl":"https://doi.org/10.1093/he/9780198729358.003.0020","url":null,"abstract":"This chapter begins with an introduction to trade terms, discusses in detail contracts at common law, with a specific focus on the passing of property and risk in the goods, and concludes with a look at the attempts by the International Chamber of Commerce to standardize and clarify the meaning of these terms. Trade terms provide a mechanism whereby buyers and sellers of goods can conveniently express their intentions. So far as they are concerned, the key issue is the allocation of the cost of transportation of the goods from the seller to the buyer, but to the lawyer, more important are the issues of when risk and property in the goods pass, and when delivery is made.","PeriodicalId":80970,"journal":{"name":"Commercial law journal","volume":"32 5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79317545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"5. The authority of an agent","authors":"E. Baskind, Greg Osborne, Lee S. Roach","doi":"10.1093/he/9780198729358.003.0005","DOIUrl":"https://doi.org/10.1093/he/9780198729358.003.0005","url":null,"abstract":"This chapter places the authority of an agent as a central concept of the law of agency, identifying two principal types of authority, namely actual authority (both express and implied, and the various forms of implied authority, such as customary authority and incidental authority) and apparent authority. There is a third form, known as usual authority, but, as will be seen, the reasoning behind the cases that established this form of authority is highly suspect. All three forms of authority are discussed. Determining the existence and type of authority is vital as the legal consequences of an agent breaching their authority can be severe. The principal may not be bound by the agent’s actions and the agent may instead be personally liable. In addition, the agent may lose the commission/remuneration to which they were entitled, and may be found liable for breach of contract and/or breach of warranty of authority.","PeriodicalId":80970,"journal":{"name":"Commercial law journal","volume":"22 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83268438","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"1. An introduction to commercial law","authors":"E. Baskind, Greg Osborne, Lee S. Roach","doi":"10.1093/HE/9780198729358.003.0001","DOIUrl":"https://doi.org/10.1093/HE/9780198729358.003.0001","url":null,"abstract":"This chapter, which determines whether or not commercial law is a distinct legal topic, begins with a much quoted passage from Professor Sir Roy Goode stating that the answer to the question may, in fact, be no. According to Goode, if commercial law is used to refer to ‘a relatively self-contained, integrated body of principles and rules peculiar to commercial transactions, then we are constrained to say that this is not to be found in England’. Without such unifying principles, it merely amounts to a ‘label which is useful for gathering together diverse material with no obvious home of its own, so as to aid exposition on a lecture course or in a textbook, or for the better organisation of the business of the High Court of Justice … but no more’. The chapter also charts the evolution of commercial law, from the creation of the lex mercatoria through to the development of transnational commercial law. Finally, the chapter discusses the various sources of commercial law.","PeriodicalId":80970,"journal":{"name":"Commercial law journal","volume":"28 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87901788","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"14. Delivery and payment","authors":"E. Baskind, Greg Osborne, Lee S. Roach","doi":"10.1093/HE/9780198729358.003.0014","DOIUrl":"https://doi.org/10.1093/HE/9780198729358.003.0014","url":null,"abstract":"This chapter considers the duty of the seller to deliver the goods and the duty of the buyer to accept the goods and to pay the price. Payment and delivery are concurrent conditions in a contract of sale. This means that the seller must be ready and willing to deliver the goods, and the buyer must be ready and willing to pay for them in accordance with the terms of the contract. The parties to the contract can make whatever agreement they want in respect of delivery and payment and, in practice, will often do so in relation to the time, place, and manner of the delivery and the payment. Where the parties have not agreed on these matters, the Sale of Goods Act 1979 (SGA 1979) lays down certain rules, which are discussed in detail in the chapter. Similar rules apply to consumer sales under the Consumer Rights Act 2015.","PeriodicalId":80970,"journal":{"name":"Commercial law journal","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76514569","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"4. The creation of the agency relationship","authors":"E. Baskind, Greg Osborne, Lee S. Roach","doi":"10.1093/he/9780198729358.003.0004","DOIUrl":"https://doi.org/10.1093/he/9780198729358.003.0004","url":null,"abstract":"This chapter considers the various methods by which a relationship of agency can be created, namely, by agreement, by ratification, by operation of law (including agency by necessity), and arising due to estoppel. It should be noted that an agency relationship might be held to exist, even though the parties or one of the parties do not wish for it to exist, or have expressly declared that such a relationship does not exist. Equally, the fact that the parties describe themselves as ‘principal’ and ‘agent’ will not conclusively establish that a relationship of agency exists, and the courts will disregard such labels if the realities of the relationship indicate that it is not one of agency. An agency relationship can therefore be created consensually or non-consensually. The chapter also discusses preliminary issues such as the capacity of agent and principal, and the formalities needed to create a relationship of agency.","PeriodicalId":80970,"journal":{"name":"Commercial law journal","volume":"47 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74415815","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"23. Legal aspects of money and payment","authors":"E. Baskind, Greg Osborne, Lee S. Roach","doi":"10.1093/he/9780198729358.003.0023","DOIUrl":"https://doi.org/10.1093/he/9780198729358.003.0023","url":null,"abstract":"This chapter discusses the ideas of payment obligation and the meaning of money, which are both central to commercial law since almost all commercial transactions involve an obligation to make a payment in money by one party or another. Its objectives are, first, to introduce the idea of money; second, to consider the legal nature of physical cash; third, to consider what is involved in the obligation of meeting a payment; and finally, to set out the basic nature of a bank account to enable consideration of the electronic payment mechanisms through funds transfers.","PeriodicalId":80970,"journal":{"name":"Commercial law journal","volume":"2015 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86210448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"9. Termination of agency","authors":"E. Baskind, Greg Osborne, Lee S. Roach","doi":"10.1093/he/9780198729358.003.0009","DOIUrl":"https://doi.org/10.1093/he/9780198729358.003.0009","url":null,"abstract":"This chapter discusses the various methods by which the authority of an agent can be terminated according to the law of agency. Numerous such methods exist, but they can be loosely organized into two distinct categories: first, termination by an act of the parties; second, termination by operation of the law. An agent’s authority may be terminated by the act of one or both of the parties. It should be noted that, whilst the acts discussed in the chapter will usually terminate the agent’s actual authority, the facts of the case might lead the court to conclude that the agent still has apparent authority to act on behalf of the principal.","PeriodicalId":80970,"journal":{"name":"Commercial law journal","volume":"67 5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77453532","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"21. Contracts of carriage of goods by sea","authors":"E. Baskind, Greg Osborne, Lee S. Roach","doi":"10.1093/HE/9780198729358.003.0021","DOIUrl":"https://doi.org/10.1093/HE/9780198729358.003.0021","url":null,"abstract":"This chapter discusses situations wherein the shipper will only form a contract to book space on a ship. In such a case, the person requiring the goods to be carried, called the ‘shipper’, enters into a contract of carriage of the goods with the person having possession and control of the ship, the ‘carrier’. The carrier need not have title to an absolute interest in the ship; he or she may be a charterer having at most only possessory title, and the shipper may well pass his or her rights in the goods along with his or her rights against the carrier to a third party. Although the terms ‘shipper’ and ‘carrier’ are used here, the parties concerned would often be more accurately described as the ‘cargo interests’ and the ‘ship interests’.","PeriodicalId":80970,"journal":{"name":"Commercial law journal","volume":"17 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80165541","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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