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In: Advanced Math

What legal considerations exist with respect to trade regulations, international contract formation, employment and human rights...

What legal considerations exist with respect to trade regulations, international contract formation, employment and human rights issues, and prohibited activities in the international environment? Give at least three specific examples.

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Expert Solution

• Here In the context of global legal environment, some of the legal considerations regarding international trade, mainly center on the economic welfare of the various individual entities involved in international trade of various goods and services.we can say as some examples consumers and producers/manufacturers of various goods and services in different countries. legal restrictions on international export by any country might adversely impact the export revenue of the domestic export based companies or organizational entities in that particular country thereby reducing the overall economic welfare of the domestic exporters but the same trade limitations can now economically benefit the domestic producers or sellers in the importing countries due to relatively less competition in the global market. Alternatively, any legal restrictions on import of goods and services by any country would consequently benefit the local producers or companies again due to comparatively less competition or rivalry in the international market thereby raising their overall economic welfare but on the other hand, it will negatively impact the economic welfare of the exporters in the exporting countries caused by a decline in the overall export volume and export revenue. Now the legalization international business and commercial contracts essentially involves various factors or considerations such as transparency of the concerned contract and the respective terms and conditions incorporated into it, unambiguous and thorough understanding of the contractual terms and conditions by the respective parties or entities involved in the contract, the equity and fairness of the business or commercial dispute that is under the main consideration, safeguarding the rights and prerogative of the concerned contractual parties or entities as recognized under a common international law or judicial procedure, and so on. For example, during any commercial or business dispute between multiple international business entities a foremost legal consideration would be to refer to the concerned international contract law or mandate and recognize with abolsute fairness, any violation of rights or prerogatives of any of the concerned entities or parties and then determine the verdict accordingly. Therefore, it is extremely imperative for any international business contract law to upheld legal fairness and transparency to the utmost and make sure that it safeguards the legal rights and prerogatives of the international business entities and organizations.
With regards to employee or labor rights and human rights issues pertaining to their fair treatment by the busines organizations or companies, it is extremely important to make sure that the fundamental human rights and preoragtives of the laborers/workers/employees employed by the international business organizations or companies are respected and implemented to the utmost consideration and the workers or employees must be entitled to undertake necessary legal or judicial actions following violation of the same based on proper and fair evidential support. In this regard, some of the basic considerations commonly include safe and healthy work environment for the workers/employees in any international organization or company, proper hyegene and cleanliness of the work environment, providence of sufficient breaks or recess to the workers/employees, work-related physical injuries or casualties of the workers/laborers and providence of fair and adequate legal compensation by the company, proper and satisfactory maintenance of the safety standards in the wor environment as mandated by the international labor laws pertaining to human rights, and so on. Therefore, the fundamental judicial or legal basis of international labor laws and human rights mainly concerns all these important aspects related to employee or worker welfare and progress. Now, prohibitive activities from the perspective of international business and commerce, evidently involves wide range of issues such as animal rights, human rights, unfair and antitrust market activities, unfair manipulation of various economic tools and policy mechanisms of any country that can detrimentally affect the economic welfare of various commercial entities in the international market, and so forth. For example, many economists and political activists oppose the currency manipulation(forcible devaluation of Chinese Yuan with respect to other international currencies) of the Chinese government to gain unfair economic advantage in the international market thereby expanding the export of the Chinese goods and services in the international market and maximizing export revenue. This would negatively impact the economic welfare impact of the competitors or export organizations or companies in other countries thereby disruption the economic efficiency of the international export market. Hence, one of the legal considerations of any prohibitive activity in the international commercial market evidently pertains to unfair and unscrupulous market practices that might inequitable impact the economic welfare of the other concerned market entities. Additionally, many of the animal rights activists and organizations around the world oppose unfair killing of various animals for the production or manufacturing of various goods and services by international business organizations or companies mainly on moral or humanitarian grounds and demand legal or official or abolishment of businesses/goods/services using animal organs.

Thank you so much sir


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