Paper Topic:

Business Law

1718206 Business Law

1 . Do you think adopting the Uniform Commercial Code (UCC ) was necessary (Meiners , 2006 ? Explain your reasoning

I think the adopting the Uniform Commercial Code was necessary in to make the law uniformly applied across the different states of the United States of America

The law of merchants was an international law that had long been practiced in Greece before . The said law is in the form of commercial law that was made necessary to facilitate trade among states . The US in particular also needs commercial law which it

made into the UCC to increase trade among its states by promoting uniform interpretation

To illustrate , let us use the concept of contract law . Thomson West Legal Studies (2006 ) said that contract law is part of the common law that has evolved for hundreds of years and since contract law is primarily judge-made law at the state level , there are some differences in contract rules across the states , but the basic rules are similar in all states

From above we could sense that the differences in contract rules could create a problem which could delay interpretation and which could prevent the efficient operation of trade across states

Thomson West Legal Studies (2006 ) said that one of the costs of doing business in different states was dealing with the different rules of commercial law and that by the 1940s , some legal scholars and people in business decided that it would be efficient to have a more consistent set of rules governing commercial transactions . Hence , in 1942 UCC was drafted and after ten years of work , under the direction of law professors Karl Llewellyn and Soia Mentchikov , the groups presented the Uniform Commercial Code to the states and every state has adopted most of the UCC , although Louisiana has not adopted Article 2 (Thomson West Legal Studies , 2006 (Paraphrasing made

Another admitted benefit of the UCC is that it has allowed modification over the last years to reflect changes in the way businesses operate (Thomson West Legal Studies , 2006 ,

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2 . How is international business affected by U .S . trade laws ? Who do these laws protect ? Do you think they are necessary

The international business is affected by the US trade laws in the sense that the US is one of the major players in the international trade among different nations . That the US currency is recognized all over the world is a proof of the influence of the US laws in the international business

Of course the US trade laws are meant to protect the interest of the US government for it would be inconsistent against US nature to enact law that would not protect itself . The US government for example could impose quota or restriction for products coming from Asia as a result on international trade and a country which depend on the US for its main market will really feel the pinch if suddenly the restriction is too much . US may , of course , decide to...

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