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Additional resources for ACCA - F4 Corporate and Business Law (GLO): Study Text
Its purpose is to be 'a forum to discuss, develop and refine economic and social policies'. It has created both legally binding agreements (for instance in relation to bribery) and also non-binding agreements (such as guidelines for multinational enterprises). The OECD invites non-member countries to subscribe to its agreements as well as members, and is involved in a further 70 countries, including China, Russia, Brazil and some countries in Africa. 7 International Institute for the Unification of Private Law (UNIDROIT) The International Institute for the Unification of Private Law (UNIDROIT) is an independent intergovernmental organisation which studies the need for and how to modernise, harmonise and coordinate private international law, and in particular trade law.
It was established in 1966, when the General Assembly recognised that disparities in national laws governing international trade created obstacles to the flow of trade. UNCITRAL was given the task of harmonising and unifying the law of international trade by: x x x x 32 Co-ordinating the work of organisations active in the field and encouraging co-operation among them. Promoting wider participation in existing international conventions and wider acceptance of existing model and uniform laws. Preparing or promoting the adoption of new international conventions, model laws and uniform laws.
5 Differences in law In addition to the economic problems above, there are legal barriers to trading between nations. For instance, take a moment to try and define what a contract is. A contract is something defined by the law, and so, as the law varies from country to country, may be one thing in one country and a different thing in the other. It may have different legal consequences in different parts of the world. For example, the following definition of contract could be given. Key term A contract is a legally binding agreement.
ACCA - F4 Corporate and Business Law (GLO): Study Text by BPP Learning Media