Unit 14 International Financial Law.ppt

Unit 14 International Financial Law Text I Law of International Finance-Choice of Law -To understand international principles of choice of law in international finance context Text II Selected Clauses of Agreement of International Monetary Fund -To have an overview of the Agreement Typical Sentence Patterns: Courtroom English Text I Law of International Finance -Choice of Law Useful expressions: bond issue, say (parenthesis), syndicate, country of…, place of…, impinge on / upon, have recourse to, grasp at a straw, apace (adv.), ascertain the law, off-shoot, family of law, be a long way from, tenet for, usury n. (usurious adj.), forfeiture (of loan), given that…, on offer, have an edge in (bargaining power), as opposed to, part (v.) with, arbitral / arbitration tribunal, merits, confer…on…, in suspense, be struck down, evasive adj. (evade v., evasion n.), statutory limitation, devoid of, on ground(s) of/ that…, national prestige, alien law, self-supporting, tacit / implied choice, policy interest Terms: international loan agreement, private international law, conflict of laws, corporate law, proper law, party autonomy, center of gravity, law of the forum Proper names: (Convention establishing) ICSID, EEC Draft Convention on Obligations Questions based on Part I When does private international law arise in international finance? What do you know about private international law? How does the text describe the development of private international law? Use the two-stage analysis to the 2 examples provided in para.2 and para.5 respectively. Questions based on Part II-end What is proper law and what law can be proper law? What are the possible choices of law related to an international loan agreement? What is party autonomy, when does it apply, what are the advantages of such a principle and what are the limitations on it? What can the parties resort to in case of dispute if no express choice of the proper law has been made? What is the status quo of inte