International Commercial Transactions - Assignment Example

International business is dependent on various factors that make it distinct from a local business. When a company is entering into a contract with a company from another country, there is a need to consider the relationship between the countries that are being involved, the trade agreements that have been entered by the countries in question, the ability of the company to undertake the contract to completion, the validity of the contract among other areas (Charles 2006, 78). This requires the management of the company entering an international contract to be acquitted with the various laws that are operational in international trade.

These laws include; private international law, public international law, private municipal law, and public municipal law. Private international law is a section of the law that is aimed at settling the differences that usually arise in the course of doing business. The law is aimed at interpreting the different laws that are there in different countries clearly showing their differences and ways of solving the conflicts that arise due to the different interpretations of the laws (Payandeh 2010, 238).

In the United States of America, the department of private international law is an advisory department that is set to help the nationals of the United States of America and the internationals that are residing and doing business in any of the states about the way to conduct business. Private international law is not so much concerned about international treaties but rather the other different laws that are functional in the country. One of the basic realities that lead to the formation of private international law is the fact that all countries have their governance and it is the governance that assists it in making the various rules in that country.

Thus, when a person leaves one country and moves to another and wants to settle on a certain business, he must be well acquainted with the new requirements that are in the new country as opposed to the previous country (Gelkopf, Roffe, Behrbalk, Melamed, Werbloff, & Bleich 2009, 38). The differences lay in the validation or legalization of some seeking to trade in one country and vice versa in the other country. One of the practical examples is the rules on driving. In some countries, the drivers are required to always maintain the left-hand side of the road while in other countries the drivers are required to maintain the right-hand side.

Still, in the motoring industries, some countries have regulations against overspeeding while at the same time, other countries have rules that govern over-speeding as well as under-speeding. These are rules that are not present when an international treaty is being made. The rules require the person entering the deal to have adequate knowledge of how the laws of the new land differ from the laws in his mother country (Roffe, Gelkopf, Behrbalk, Melamed, & Bleich 2007, 63). Of great importance is the law of persons which generally dictates a living standard that is conducive for all the persons both natural and legal to interact without any of them being coerced or subjected to undue influence.

This, the department of private international law gives guidance on how a person can get judicial assistance once that person is grieved. The judicial assistance he gets must be from a person who is conversant with the rules and constitutions of both countries so the interpretations can be done about both constitutions.