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International Business Law summary/lecture notes

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International Business Law summary/lecture notes

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  • June 21, 2023
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  • 2022/2023
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International Business Law – 2022-2023 – lecture notes
Lecture 1 – introduction to Law & Legal Systems

1. Law
2. Legal Families
3. Sources of Law and obligations
4. Territorial effect of laws
5. Introduction European law; EU institutions

1) LAW
Law: the system of rules which a particular country or community recognizes as regulating
the actions of its members and which it may enforce by the imposition of penalties

Justice: the moral conviction of a group of people expressed in law

Functions of law
- Normative law: Ethics
How the legislator wants people to behave (“just behavior”)
(Wernaart p. 12: “substantive”)
- Formal law: procedural
To maintain the normative rules

Example - normative function
- Human rights originally protected against state power
- Equality principle: everybody will be treated in the same way in similar cases
- No discrimination: for everyone: on the basis of gender, race, religion, political party or
whatever is not allowed Art 1 NL Constitution
- Ethics
- Vs constitutional rights, social rights
Example – conflict solving – preventive
- Example: accession rules (private law/property law)
- The owner of the car becomes the owner of the goods that have been affixed to the frame
(art 3:4 s 2 DCC)
Example – facilitating
- Article 2:3 DCC Private legal persons
- Freedom to organize, freedom of enterprise

Legal certainty – positive law – sources
- Legal certainty
- Example: positive law: law as it presently is
- If you want to know what law presently is you must know where to find the applicable rules
 you will search the sources of law
 codification (most important in civil law countries)
 in common law countries: areas of law built around “precedents” (H/A)
- Also certainty about the exact text
- State control in issuing laws – law journals
- Still “in print” design

,2) LEGAL FAMILIES

- Civil law: in continental Europe beginning in the Middle Ages and based on codified law
drawn from national legislation
- Common law: in England beginning in the Middle Ages and is based on case law and
precedent rather than codified law
- Religious law: a religious system or document being used as a legal source, through the
methodology used varies (Islam: Sharia – Koran)
- New systems: Civil Law (Japan, Poland, China etc.)

Status / law family
- In common law
 Historically developed body of law
 No quest for ‘principles of law’
 Statute law is ‘an infringement to common law’
 Only if case law is not sufficient
 “disaster becomes law” (US: Enron > Sarbanes Oxley)
+ stricter interpretation of codified law


3) SOURCES OF LAW / OBLIGATIONS HIERARCHY IN CIVIL LAW
- Treaty (several nations) human rights
- Constitution (nation) federal law
- Statutory acts/codes (parliament) state law
- Administrative measures (administration: DNB, AFM)
- Self-regulation / contracts / juridical acts
- Habit (= customary law)


- Status/priority – principles:
- A lower rule should be in accordance with the higher rule
- A newer rule supercedes older rule
- A special rule supercedes a general rule
Examples:
- Covid-19 regs supercede normal procedures;
- In DCC the shareholders appoint the director. In case of a fin ist, the NL
financial supervision act requires AFM/DNB approval of a director before
appointment
- Issues with new rules
- New statute law: certainty but fixation
- Civil law: to prevent excess regulation: NL there must be a proven need for the law
and the need should be compelling
- A new lay may codify pre-existing rules
Or
- A new law changes pre-existing rules – transition period
- Law/language is ‘never’ clear


4) TERRITORIAL EFFECTS OF LAWS
- Autonomy/sovereignty
- Treaties-types

,- Extra-territorial effect
- Autonomy / Sovereignty
- Sovereignty: the power of a country to control its own government within its
borders
-> to design its laws
- Autonomy: the right of self government
- Synonyms / related words:
- “freedom, independence, liberty”
- “EU member states gave partially up on sovereignty”
- Treaties




- Extra-territorial effect
- Examples of Extra-Territorial Effect of Laws:
- FCPA
- ABA + MSA
- GDPR

- FCPA 1977 (US) Foreign Corrupt Practices Act:
- Bribery:
- Making a corrupt payment to a non-US government official for the purpose
of securing an improper advantage or obtaining or retaining business for any
person
- Applicable to:
- US persons and companies, wherever active and any foreign company listed
on US exchange, or individual using US mail, - commerce, - bank accounts

- Anti Bribery Act 2011 (UK) (ABA)
- Bribery:
- Bribing another person
- Being bribed
- Bribing to a foreign public official
- Failing to prevent bribery
- Scope:
- [UK and] committed elsewhere the foreign acting person or company has a
close connection to UK

- EU General Data Protection Regulation (2018) (EU GDPR)
- If a non-EU company offers goods or services to EU customers (B or C)
-> GDPR will apply, even if no data processing takes place in EU
- ‘Brussels Effect’ : the technically good quality EU legislation is ‘copied’ by other
countries across the world

, 5) INTRODUCTION TO EUROPEAN LAW
- Legal reasoning:




- Introduction to european law:
- EU
- 27 countries
- 1/1/20
- Outline:
- Key tenets EU law
- Basis and difference between regs and directives
- EU institutions relevant for corporate law
- 4 freedoms and corporate law
- EU corporate law

- European law key tenets
EU [1958 EEG/1993 EG/2009 EU]
- 27 sovereign nations, bound by:
2 Treaties (TEU and TFEU), covering Free Trade, Customs-union, economic and
monetary union etc
- EU = organization with :
- European Parliament,
- European council,
- Council of European Union,
- European Commission, and
- European court of justice
- Extra layer of regulation in many field
- Mix of inter- and supra governmental
- Principles of proportionality and subsidiarity

- Basis and difference between regs and directives:

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