Course will cover the payment and financing of international business transactions with particular attention to the sale of goods. With various degrees of emphasis, coverage will consist of:
● Brief introduction to basic conflict of laws rules governing international commercial transactions
● Introduction to international commercial banking (deposit taking, bank and customer relationship, foreign currency and cross-border payment obligations and bank deposits; correspondent banking; foreign currency risks);
● International payments by wire;
● Principal aspects of the law governing documentary sales in international trade: delivery, passage of property and risk);
● From paper to Electronic and functional equivalence of electronic documents.
● Selected aspect pertaining to negotiable instruments as payment and credit instruments in international trade; and
● Payment and financing international trade transactions: documentary collections and letters of credit (and related banking instruments).
Course is appropriate to both second and third year students—there are neither prerequisites nor co-requisites.
While the focus of the course is payment and financing of international trade, this may be the only course offered on the JD level introducing students to the foundations of banking law needed for both domestic and international business transactions. It may also be the only course introducing students to transport documents (such as bills of lading) and their use in international transactions as well as the law that governs international transactions.
In fall 2021 in compliance with ‘Covid 19’ requirements the instructor will endeavour to offer as much as possible synchronous instruction (over Zoom) at the scheduled time slots and will expect students to attend with the video function on.
At the instructor’s discretion final mark may be adjusted by half a mark (or in extreme cases full mark) that may be taken away or added for class participation (including attendance). Classes will be recorded ‐ per the usual policy of the Law School ‐ and the instructor recognizes that at least for some students sometime attendance will be precluded or disturbed by technological or circumstances at home.