Flashcards in Chapter 54 Deck (19):
Law that governs affairs between actions and that regulates transactions between individuals and businesses of different countries.
Foreign Commerce Claus
A clause of the U.S. Constitution that vests Congress with the power "to regulate commerce with foreign nations."
A clause of the U.S. Constitution which states that the president "shall have the power... to make treaties, provided two-thirds of the senators present concur."
The first source of international law, consisting of an agreement or a contract between two or more nations that is formally signed by an authorized representative and ratified by the supreme power of each nation.
A treaty that is sponsored by an international organization.
United Nations (UN)
An international organization created by a multilateral treaty in 1945 to promote social and economic cooperation among nations and to protect human rights.
International Court of Justice (ICJ)
The judicial branch of the United Nations that is located in The Hague, the Netherlands. Also called the World Court.
A regional international organization that comprises many countries of western and eastern Europe and was created to promote peace and security as well as economic, social, and cultural development.
North American Free Trade Agreement (NAFTA)
A treaty that has removed or reduced tariffs, duties, quotas, and other trade barriers between the United States, Canada, and Mexico.
World Trade Organization (WTO)
An international organization of more than 130 member nations created to promote and enforce trade agreements among member nations.
A body of three WTO judges that hears trade disputes between member nations and issues a "panel report."
WTO Dispute Settlement Body
A board composed of one representative from each WTO member nation that reviews panel reports.
WTO Appellate Body
A panel of seven judges selected from WTO member nations that hears and decides appeals from decisions of the dispute-settlement body.
The courts of individual nations.
Choice of Forum Clause
A clause in an international contract that designates which nation's court has jurisdiction to hear a case arising out of the contract. Also known as a forum-selection clause.
Choice of Law Clause
A clause in an international contract that designates which nation's laws will be applied in deciding a dispute.
Act of State Doctrine
A doctrine which states that judges of one country cannot question the validity of an act committed by another country within that other country's borders. It is based on the principle that a country has absolute authority over what transpires within its own territory.
Doctrine of Sovereign Immunity
A doctrine which states that countries are granted immunity from suits in courts of other countries.