Law Chp 25

international monetary fund

intended to promote stability of world currencies and provide temporary assistance for countries to help prevent the collapse of their economies

Common law jurisdictions adhere to the concept of ________, whereby a court may strike down a piece of legislation if it violates an overriding principle of law.

judicial review

Legal systems that are made of two or more different legal systems are known as

mixed legal systems

The CISG provisions do not apply to transactions in which one party is a _______.

nonmerchant

sources of international law

treaties, customs, judicial decisions

The Foreign Corrupt Practices Act was created to prevent bribery of foreign officials.

true

The World Trade Organization (WTO) has certain authority over disputes about trade barriers.

true

The common law legal system allows judges to fill in gaps in the law that are not covered by a statute.

true

The civil law system relies heavily on ________ to define the laws.

written codes

sovereign immunity

A doctrine that immunizes foreign nations from the jurisdiction of U.S. courts with some exceptions

Trans-Pacific partnership

A trade agreement among 12 Pacific Rim countries

Foreign Corrupt Practices Act

U.S. law regulating behavior regarding the conduct of international business in the taking of bribes and other unethical actions. Requires corporations to keep accurate record books.

international court of justice

a court established to settle disputes between members of the United Nations; Netherlands

What type of legal system would a government that based its laws on the tenets of Islam have?

a religious-based legal system

common legal system

english law heritage; fills in gaps; certain british countries

united nations

facilitate common international concerns on defense, trade, the protection of human rights, and other matters

Countries that follow the common law system include the United States, Canada, Australia, and most of Latin America.

false

Foreign Sovereign Immunities Act (FSIA)

federal statute that incorporates sovereign immunity by explicitly prohibiting U.S. courts from rendering judicial actions against foreign nations or their government officials unless 1). the foreign nations has waived its immunity either explicitly or by implication, 2). the foreign nation is engaged in some commercial enterprise on U.S. soil, or 3). foreign natinons actions have a direct effect on u.s. interest

european court of justice

final arbiter of the codes governing European Union member countries; Luxembourg

world trade organization

promotes and has certain authority over disputes involving trade barriers

The civil law system is based on the ______ legal heritage.

roman

civil legal system

roman law heritage; doesn't fill in gaps

Under the concept of ______, nations are exempt from jurisdiction in other nations' courts.

sovereign immunity

religious legal systems

systems of legal rules based on religious teachings; islam