International trade has come to play a major role in most world economies. Whenever there is trade the need for laws to regulate the conduct of players becomes very evident. This much is true for transnational trade as it is for domestic trade. In the case of domestic trade such a need is easily satisfied by the applicable domestic law. Transnational trade is however governed by complex rules of international law. International law covers a wide array of subjects. International law can be found in treaties and even from customary sources. Treaty law is currently governed by The Vienna Convention on the Law of Treaties of 1969(VCT). This paper discusses the assertion that the Convention regulates the most important aspects of treaty law in transnational commercial law.…………….
International Conventions Recognised By the Contesting Parties
As has been noted above, international conventions form part of international law. Pursuant to Article 2(1) of the VCT), a treaty is defined as any international agreement between sates in written form and governed by international law. The Articles disregards any particular designation that might be used to refer to a treaty. It follows from this that words like convention, declaration, treaty and so forth will suffice in reference to a treaty. The VCT does not specify what kind of treaties it is to regulate. In our case treaties dealing with transnational commercial law are not specifically singled out. A discussion of whether the VCT regulates the most important aspects of the international law of treaties in the area of transnational commercial law will therefore have to first place these treaties in the ambit of international law or public international law.
Get an original custom written Casestudy from scratch by our professional writers at discounted rates.Read More