IIM-L students get lessons in law

SHELBY QUAST is a lawyer, a teacher in international business transactions and director-general of International Legal Assistance Consortium (ILAC), US. She was here at IIM-L to take classes in International Business Transactions ??practical legal course on international negotiations and business transactions?.

SHELBY QUAST is a lawyer, a teacher in international business transactions and director-general of International Legal Assistance Consortium (ILAC), US.

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She was here at IIM-L to take classes in International Business Transactions —“practical legal course on international negotiations and business transactions”.

During her 10-day classes, she taught the budding managers at IIM-L the “the relationship between business and law.”

Her last class on Tuesday was on ‘dispute resolution’.

“I taught them how to enter into business agreements to avoid disputes. For instance, a US and an Indian firm entering into an agreement could well make a written understanding that if the rate of fluctuation (rupee vis-a-vis dollar) goes below five per cent they would rediscuss the price,” she said.

The topics that she touched were international litigation, arbitration etc. After her class two of her students — Zerin Rahiman and Yayati Boruah — were so impressed that they decided to write a business plan on the basis of what they had been taught over the last 10 days. “That was quite satisfying,” Quast said.