International Trade Economics Notes | B.B.A. LL.B. (Five Years) Semester 10 | KSLU | munotes

Contents

Unit I

1. Law Relating to International Trade Economics: What This Paper Covers, and How to Read This Book 1
2. The World Before the System: Trade Law to 1944 5
3. Theories of International Trade: Absolute, Comparative and Competitive Advantage 10
4. International Trade in India's History 15
5. The Bretton Woods Conference of 1944 19
6. The Havana Charter and the Organization That Never Was 24
7. UNCTAD: Trade and Development 28
8. UNCITRAL and International Commercial Arbitration 32
9. GATT 1947: The Agreement That Stood In 45
10. How GATT Worked, and How Far It Succeeded 49
11. The Rounds: Geneva 1947 to Tokyo 1979 54
12. The Uruguay Round 58
13. The Marrakesh Agreement, Article by Article 63
14. Objectives, Scope and Functions of the WTO 68
15. The Organisational Chart: Ministerial Conference to the Committees 72
16. Decision-Making: Consensus, Voting, Interpretations and Waivers 76
17. State Sovereignty and International Trade Agreements 80
18. GATT and the WTO Compared 84
19. Most-Favoured-Nation Treatment: Article I 88
20. The Exceptions to MFN: Preferences, the Enabling Clause and Waivers 92
21. National Treatment I: Internal Taxation, Article III:2 96
22. National Treatment II: Regulation and Procurement, Article III:4 and III:8 100
23. Schedules of Concessions and Tariff Bindings: Article II 104
24. Safeguards: Article XIX and the Agreement 109
25. Balance of Payments Disequilibrium, and Restrictions to Safeguard It 115

Unit II

1. Technical Barriers to Trade 119
2. Sanitary and Phytosanitary Measures 124
3. Trade-Related Investment Measures 131
4. Dumping I: The Concept and Article VI 136
5. Dumping II: The Investigation, the Duty and the Review 140
6. Dumping III: India's Law and Practice 146
7. Subsidies I: Definition, Specificity and the Prohibited List 150
8. Subsidies II: Countervailing Duties, and India's Cases 156
9. Agricultural Subsidies: The Agreement on Agriculture 160
10. Dispute Settlement under GATT, and Why It Had to Change 165
11. The Dispute Settlement Body and the Coverage of the DSU: Articles 1 to 3 170
12. Consultations, Good Offices, Conciliation and Mediation: Articles 4 and 5 175
13. Panels: Articles 6 to 15 179
14. Appellate Review: Article 17 185
15. Adoption and the Reverse Consensus Rule: Articles 16, 19 and 20 190
16. Implementation, Compensation and Retaliation: Articles 21 and 22 194
17. The Stages of a WTO Dispute, End to End 199

Unit III

1. The International Sale of Goods, and the Vienna Convention 204
2. Forming an International Sale Contract 208
3. Performing an International Sale Contract: The Seller's and the Buyer's Obligations 212
4. The Unpaid Seller's Rights 217
5. Standard Forms and Trade Terms 223
6. F.O.B. and C.I.F. Contracts 227
7. Acceptance and Rejection of Goods 233
8. Frustration, and Exemption from Liability 237
9. Invoices and Packing 240
10. Letters of Credit: Kinds, Autonomy and Strict Compliance 243
11. Product Liability 248

Unit IV

1. The Nature and Scope of Marine Insurance 252
2. The Marine Insurance Act, 1963: Salient Features 257
3. The Classification of Marine Policies 262
4. Hull, Cargo and Freight Insurance 267
5. Insurable Interest in Marine Insurance 273
6. Insurable Value 278
7. Disclosure and Representations in Marine Insurance 282
8. Seaworthiness and Cargoworthiness 287
9. The Marine Insurance Policy 292
10. Conditions and Express Warranties in Marine Insurance 297
11. The Voyage: Change, Deviation and Delay 301
12. Assignment of a Marine Policy 306
13. Perils of the Sea and the Proximate Cause 310
14. Total Loss and Abandonment 315
15. Partial Loss: Particular Average, General Average and Salvage 321
16. The Measure of Indemnity: Loss of Ship and of Freight 326
17. Subrogation, Contribution and Under-insurance at Sea 332
18. Return of Premium and the Closing Provisions 336
19. Carriage of Goods by Sea 341
20. The Hamburg Rules 347
21. Carriage of Goods by Road 352
22. Carriage of Goods by Rail, and the Consignment Note 356
23. Carriage of Goods by Air 361
24. Container Transport, and Multimodal Carriage 365
25. Preshipment Inspection 369
26. Import Licensing Procedures 374
27. The IEC, Licences and Quantitative Restrictions 379
28. Prohibiting Imports and Exports: Section 11 391

Unit V

1. Why the Law Manages Foreign Exchange 399
2. From FERA to FEMA: the Historical Background 406
3. The Scheme and Noteworthy Features of FEMA 414
4. Person, and Resident In and Outside India 423
5. Capital Account and Current Account Transactions 431
6. Foreign Direct Investment in India 439
7. Foreign Investment: Its Significance, the Factors behind It, and the Trends 454
8. FDI Instruments, Reporting and Enforcement 458
9. Foreign Collaboration and Technology Agreements 468
10. Foreign Institutional Investors, Non-Resident Indians and Overseas Corporate Bodies 474
11. Foreign Companies and Foreign Nationals in India 481