Legal Regime for International Sales Today Essay

Legal Regime for International Sales Today - Essay Example buyer and seller, employer and employee. First and foremost, trade and commerce had to be expanded between European countries as the local industries developed a pressing demand for materials to fuel and feed such industries. The new lavish lifestyles that exuded from the new-found affluence; the race to colonise new, distant lands; the need to protect affluent kingdoms from belligerent, covetous, hostile states demanded the need to engage in frenzied commerce and trade not only with fellow European countries but also the 'New World' which beckoned with 'exotic' commodities such as coffee, tea, tobacco, chocolate, sugar cane, potatoes, spices, gold, silver and other metals. The demand for cheap labour created the new commerce of buying and selling of African slaves. With Antwerp and Amsterdam such as the East India Company, the Hudson Bay Company and the South Sea Company, international commerce had become an economic activity which needed regulation and protection. The economic doctrine of Mercantilism ruled international trading and commercial law had to be designed to govern these international merchants. These customary, regulating rules were unified into one set of rules called the law merchant which is also referred to as the lex mercatoria or jus fort or jus forense (Schmitthoff 1968, p. 105). The law merchant or lex mercatoria is a "body of principles and regulations applied to commercial transactions and deriving from the established customs of merchants and traders rather than the jurisprudence of a particular nation or state" (Law Encyclopedia). It is also the system of rules and customs and usages adopted by such traders for the resolution of their controversies. It is codified in the UCC or Uniform Commercial Code which is a body of law, adopted by the states to govern their mercantile transactions. Because of the growing incidence of international disputes between transacting countries, such disputes were resolved through international commercial arbitration which were governed by lex mercatoria. The parties signed a contract clause in which they agreed to the provisions of lex mercatoria, which provided that an arbitrator applied the customs and usages of international trade as well as "the rules of law which are common to all or most of the states engaged in international trade or to those states which are connected with the dispute" (Lando 1985, p. 747).

Vermont Teddy Bear Case Study Example | Topics and Well Written Essays - 1000 words

Vermont Teddy Bear - Case Study Example According to the report findings there are also orders which are placed by women. They whether buy present for their loved ones, relatives of children. Speaking of value, we should note that the prices of Vermont Teddy Bear are not only competitive, but they are also reasonable as the company provides a great deal of customization. Of course, the customers might find lower prices, but they may not find the same level of commitment and special care for their gifts. The financial model of the company is a rather simple one. It capitalizes the nostalgia of the people over simple gifts and offers something that is traditional and easily understandable. Indeed, teddy bears, pajamas and flowers do not contain any electronics and are suitable for the majority of the holidays. Speaking of the latter, there are three peak seasons in the year with roughly a month apart. However, sales are not very successful during the rest of the year due to a general shortage of demand.From this study it is clear that  the employees call it the rush and indeed the number of orders that are placed is tremendous. That is why there is no wonder that the system cannot process all and shuts down. There is even an internal moniker that is given to men who place their order at the very last moment: â€Å"Late Jack†. The biggest challenge that occurs during the peak experiences is the loss of orders and, consequently, bad reputation among the customers.