1. Legal Agreements Around the World
CHAPTER 8
11/16/2018
CHAPTER 8
Legal Agreements Around the World
8-1 International Legal Systems and Liability
8-2 Property And Contracts
8-3 Resolving Legal Differences
INTERNATIONAL BUSINESS

2. LESSON 8-1 International Legal Systems and Liability
GOALS
Identify and describe the legal systems upon which international law is based.
Explain product liability.

3. 8
Legal Systems
Civil law
Common law
Statutory law

4. Lawmaking Bodies of the Ten Most Populous Countries8
Lawmaking Bodies of the Ten Most Populous Countries
Rank
Country
Lawmaking Body 1
China
National People's Congress 2
India
Parliament 3
United States
Congress 4
Indonesia
House of Representatives 5
Brazil
National Congress 6
Pakistan 7
Bangladesh
National Parliament 8
Nigeria
National Assembly 9
Russia
Federal Assembly 10
Japan
Diet
Source: CIA World Factbook

5. 8
Liability
Liability is a broad legal term referring to almost every kind of responsibility, duty, or obligation.
Liability for debt, loss, and injury
Product liability
Negligence
Strict liability

6. LESSON 8-2 Property And Contracts
GOALS
Explain laws and international trade agreements that protect property rights.
Describe when an agreement has all of the components of a contract.

7. Property Rights and Responsibilities8
Property Rights and Responsibilities
Property law
Intellectual property
Patents
Trademarks
Copyrights

8. Components of a Contract8
Components of a Contract
Capacity
Mutual agreement
Consideration
Legal purpose

9. 8
Contract Law
A contract is a legally enforceable agreement between two or more persons either to do or not to do a certain thing or things.
An implied contract is one that is not explicitly agreed to by the parties but is inferred either from the parties’ conduct or from the law.
An express contract is one whose terms are openly declared, either orally or in writing.

10. Treaties and Trade Agreements8
Treaties and Trade Agreements
World Trade Organization (WTO)
European Union (EU)
North American Free Trade Agreement (NAFTA)

11. LESSON 8-3 Resolving Legal Differences
GOALS
Identify several different ways to resolve international legal disputes.
Explain the litigation process.
Describe the role of the International Court of Justice in international business.

12. Resolving Legal Differences8
Resolving Legal Differences
Without Court Action
Mediation
Arbitration
Using Court Action
Litigation

13. The International Court of Justice8
The International Court of Justice
Established by the UN Charter in 1946
Sits in The Hague
Settles disputes between nations
Advises UN on matters of international law