Kansainväliset sopimukset Luento 1

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1 Kansainväliset sopimukset Luento 1
Johdanto Case 1 Matti Rudanko

2 Pdf files: (1) offer – acceptance model, (2) error in expression
Lecture 1: Slides Slide sets: 1 – 5 Pdf files: (1) offer – acceptance model, (2) error in expression Kansainvälliset sopimukset luento 1

3 The Views of the Regulator of the Markets – AND THOSE OF BUSINESS
The views are taken from regulative provisions, from international, European and national legislation, which are effectively harmonized… … but it is our task to find also here the business perspective so that regulatory provisions and other legal models are converted into business tools to create added value… … e.g. by creative use in market strategy planning, contracting and contract management, corporate finance etc. Kansainvälliset sopimukset luento 1

4 The “four freedoms” of the Single Market
The cornerstones of the single market are often said to be the “four freedoms” – the free movement of people, goods, services and capital. One of the “four freedoms” of the Single Market is the free movement of goods. Member States may restrict the free movement of goods only in exceptional cases, for example when there is a risk resulting from issues such as public health, environment, or consumer protection. Kansainvälliset sopimukset luento 1

5 Financial Services Kansainvälliset sopimukset luento 1
“Financial Services policy should deliver stable, secure and efficient financial markets and ensure coherence and consistency between the different policy areas, such as banking, insurance, securities and investment funds, financial markets infrastructure, retail financial services and payment systems.” ( ) Kansainvälliset sopimukset luento 1

6 Views on the Markets Economics: markets in the context of political economy Methods of economics and business economics Finance and Accounting: pricing of derivatives, investor behavior, market efficiency, financial instruments, IFRS etc. Communication sciences (e.g. representations of finance in media), sociology etc. Classical question: why regulate the markets? Karl Marx – Adam Smith (the visible / invisible hand) – the modern competition law The special characteristics and role of financial markets may increase the need of regulation (Here:) the (combined) legal view: function of regulation in market context Kansainvälliset sopimukset luento 1

7 Main Views and Objects of Regulation of International Trade
Market regulation Competition law (EU, national) Monopolies, cartels Merger control Regulation of the international trade environment WTO and other trade organizations (international conventions) Contract law (national, EU, international) CISG, Unidroit Target: contractual relationship Conclusion of contract, contractual liabilities Regulation of financial markets (national, EU) Kansainvälliset sopimukset luento 1

8 Overview of Course Topics (Slide Sets)
The Legal Environment of International Markets Slide Set 1 General Doctrine of Contract Law Formation of Contracts Offer and Acceptance Model Non-conforming Reply to Offer Slide Set 2 Contracts of Sale and Carriage in International Trade Slide Set 3 Letter of Credit Slide Set 4 Kansainvälliset sopimukset luento 1

9 Overview of Course Topics, cont.
Kauppasopimus: 1) Osapuolten suoritusvelvollisuudet ja vastuut 2) Tavaran virhe Slide Set 5 1. Lainvalinta (kansainvälinen yksityisoikeus) 2. Tuomioistuinten kansainvälinen toimivalta ja tuomioistuimen valinta Slide Set 6 1. Kansainväliset ja pohjoismaiset sopimusoikeusjärjestelmät 2. Merger Clause (entire agreement) 3. ICC:n mallisopimus Slide Set 7 Kansainvälliset sopimukset luento 1

10 Overview of Course Topics, cont.
1.Vastuunrajoitusehdot 2. Yleinen sopimusoikeudellinen korvausvastuu 3. Sopimussakko Slide Set 8 1. Sopimuksen taloudellinen optimointi 2. Law and economics 3. Sopimusosapuolen rajoitettu rationaalisuus Slide Set 9 Eurooppalaisten oikeusjärjestelmien historia Kolme suurta oikeusjärjestelmää Oikeusjärjestelmien eroja, jotka heijastuvat sopimusoikeuteen Slide Set 10 Kansainvälliset sopimukset luento 1

11 Introduction to the Course
Our Approach Regulative Views on the Markets Overview of the Lectures What Else or Your Comments? Kansainvälliset sopimukset luento 1

12 Search of Regulation Material
Links to Finnish legislation translations : Kauppalaki: The Finnish Sale of Goods Act: Oikeustoimilaki: The Finnish Contracts Act: CISG: Unidroit Principles: Links to EU legislation: (by indicated search keys, e.g. document number) Kansainvälliset sopimukset luento 1

13 Harmonisation of European Contract Law
Principles of European Contract Law, Part 2 (Ole Lando,Hugh Beale) Ehdotettu asetus yhteisestä eurooppalaisesta kauppalaista (Common European Sales Law; KOM(2011) 635 lopullinen): Kansainvälliset sopimukset luento 1

14 Case 1: Conclusion of Contract, non-complying answer
Task: 1. Conclusion of Contract in Nordic and International Contract Law 2. The Legal Effect of an Answer different from the Offer 3. Significance of Payment systems (Only General Outline) Kansainvälliset sopimukset luento 1

15 The Formation of Contract
Topics and Issues The Formation of Contract Offer – acceptance model Nordic systems Common law based systems CISG and Unidroit principles Non-complying Reply A reply not conforming with the offer (in terms of sales object, performance time, payment method etc.) Cf late reply Liability Questions Rise of contractual liability Precontractual liability? Liability for unreasoned withdrawal from contract negotiations? Kansainvälliset sopimukset luento 1

16 Other Material and Further Reading
Exam textbook: McKendrick, Ewan : Contract Law (9th edition, Palgrave Macmillan) Please make use of your knowledge of IB, Finance, Logistics, and other business economic or legal know how Kansainvälliset sopimukset luento 1