State the law of the sea, Business Law and Ethics

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LAW OF THE SEA
 
The  sea  and  all  areas  of  the  sea  are  regulated  by  international  law.  The  jurisdiction  of international law extends from the right of passage over the open waters to the exploitation of sea resources and the corresponding rights and responsibilities. Historically, the sea has been used for multifarious purposes. These purposes include traveling, trade, military maneuvers etc. As the sea is of vital importance to man, there must undoubtedly be a set of rules in place to regulate its usage. The most important and all-encompassing treaty on sea is the United Nations Convention on the Law of the Sea (UNCLOS) 1982. This Convention regulates the boundaries and other issues relating  to  the  seas  globally. It  has  almost  universal adoption and  most  states  have implemented the Convention through domestic legislation.


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