International commercial law

4 important questions on International commercial law

Which 4 legal systems form the bases for the majority of the legal systems of the world?

  1. Civil or code law
  2. Common law
  3. Socialist law
  4. Islamic law

Through which phases does the negotiation process go?

  1. Initial negotiation phase
  2. Consensus ad idem phase
  3. Braking off negotiations
  4. Escape clausule
  5. Declaration of intent
  6. Closing phase

What are arbitration settlements?

It is always possible that parties in international business clash with each other.
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How can parties in international business settle their disputes?

  • Mediation
  • Mini-trial and mediation
  • Arbitration
  • Waiver or renegotiation
  • Jurisdiction

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