ABSTRACT
The European Union (EU) is one of the major and important trading areas of the world.2 As a consequence, many international businesses are likely, at some stage, to be involved in transactions which have a ‘European Union’ aspect to them. Whilst such business transactions will, essentially, occur in one of two ways-they will arise from business transactions conducted entirely within the EU, or they will arise by virtue of business transactions conducted with the EU-it is not important that there are different circumstances giving rise to such transactions; what is important is that such transactions will all, to varying degrees, be subject to the laws and legal order of the EU.
