International Business Laws

The purpose of introducing this subject is to give an overview about the legal environment and the intricacies involved in international trade. Law is defined as a set of rules established by a government to regulate the conduct of individuals and groups in a society. These rules are legal obligations imposed on citizens and enforced by the Sovereign. It is the duty of citizens to obey these rules and those who violate them are liable for punitive action. One of the major reasons for the development of law was to give protection to individuals, to society, and to property. Law is not limited to regulating relationships between individuals or between individuals and their society but also be used as a positive force to promote worthwhile social goals.