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Chapter One Introduction Learning objectives Know the course nature and content. Contents Case Study Analysis (1) According to the Britain law, it is illegal for businessman A to withdraw the offer. According to the British law: an acceptance once sent out, it is effective immediately, and in this case B makes a promise on the morning of May 4, the contract between them has come into effect. (2) According to the CISG, the both parties have the contract relationship. According to the CISG, an offer can be withdrawn before the offeree advises the commitment. However in this case B has made a commitment before A makes the withdrawal advice. So A cannot withdraw. The commitment made by B has come into effect when it reaches A in the afternoon of May 8. The contract is formed. Section 1 Definition and Role of International Trade 1. International trade the worldwide exchange of goods and services among nations. Section 2Differences between International Trade and Domestic Trade International transactions might involve foreign currencies. International trade brings together people with different language and culture. Rules and regulations are largely different from country to country. Risk levels might be higher in foreign market than in domestic market. Control and communication systems are normally more complex. Section 3Laws and Practices Applicable to International Trade Application of the law The nature of international trade customs Section 4Procedures for International Trade Key terms Trade terms, trade customs, trade practice, import trade, export trade, sales contract, export procedure, import procedure * Familiar with the relevant laws and practices applicable to international trade. Master the basic procedures of import and export business. Case study 1 Section 1 Definition and Role of International Trade 2 Section 2 Differences between International Trade and Domestic Trade 3 Section 3 Laws and Practices Applica
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