LSTD Chp 25

INCO terms

Standardized contractual terms and designations used in international and some domestic sales contracts to avoid confusion due to language barriers and differing legal systems. -recognized abbreviations to address title and risk of loss

mediation and conciliation are increasingly popular international dispute resolution procedures that always involve an adjudicative process without the involvement of a neutral third party

false -both involve a consensual process with the involvement of a neutral third party

international law has a narrow definition that is limited to the rules applied to settle disputes between counties in court

false -broad terms; not limited to simple rules.

public international law primarily regulates relations between private individuals and business entities.

false -private focuses on individuals and business entitles

International Monetary Fund (IMF)

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

FOB (free on board)

ownership of the merchandise in the process of being transported determines whether the charge of shipping (freight) is free

A___is any agreement between two or more countries to cooperate in a certain manner.

treaty

The General Agreement on Tariffs and Trade includes requirements and standards for all areas of intellectual property protection and provides an infrastructure for enforcement and dispute resolution.

true

the European Court of Justice sits in Luxembourg and is the final arbiter of the codes governing the European union member countries.

true

the parties to an international dispute are typically corporations or government entities, while domestic disputes usually involve small claims by individuals

true

sources of international law

1. treaties: agreement between two or more nations to a corporates manner 2. customs: individual conduct is permitted unless expressly forbidden. 3. judicial decisions: comity

mixed legal systems

-hybrid or composite system -include not only political entities but entities in which there is a combination of systems as a result of more or less clearly defined fields of application -EX: Saudi Arabia

religious based legal system

-legal doctrines and guidelines based on religious tenets -EX: Islamic

international mediation

-mediation and conciliation both involve a consensual process, often with the involvement of a neutral third party

Paris Convention Agreement

-patent -requires approximately 160 member countries that signed the agreement to protect the same inventory rights under any member country's patent laws as those enjoyed by citizens of that member county

comity

-the general notion that nations will defer to and give effect to the laws and court decisions of other nations -received treatment is necessary element of international relations

civil law systems

-these countries have drawn their body of law largely from Roman law heritage -these countries rely heavily on written codes to define their laws and do not favor the notion of courts filling in any gaps in the statutes

UN Convention on Contracts for the International Sale of Goods (U.N. CISG)

-used to set rules for certain business transactions -covers contracts for the international sale of goods between merchants

international arbitration forums

-International Chamber of Commerce's (ICC) -London Court of International Arbitration -American Arbitration Association (AAA)

Madrid Protocol

-Trademarks -aims to help reduce the burden of multinational companies that desire multinational protection of their trademarks by providing uniform, single-source processes

International Court of Justice

-World Court -judicial branch -based in Netherlands and its main function is to settle legal disputes submitted to it by member states and give advisory opinions on legal questions

Legal Systems of Nations

-civil law -common law (U.S. is this) -religious-based law -mixed law systems (hybrid)

Berne Convention Agreement

-copyrights -requires that foreigners from signatory countries must be granted protection via reciprocity under copyright laws of any other member country

common law systems

-countries whose law is based on English common law concepts and legal organizational methods that strongly favor the use case law -uses concept of judicial review

Foreign Corrupt Practices Act (FCPA)

-enacted to prevent corporate bribery of foreign officials -requires corporations to keep accurate books and records

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 nation has waived its immunity either explicitly or by implication 2. the foreign nation is engaged in some commercial enterprise on U.S. soil 3. the foreign nations actions have a direct effect on U.S. interests

international law

-has been defined in broad terms, it is not limited simply to rules that are applied to settle disputes in court -most legal sources define this as a body of rules and principles of action binding countries, international organizations, and individuals in their relations with one another

three primary sources of international law are:

1. treaties 2. customs 3. judicial decisions

European Court of Justice

A judicial arm of the European Union, based in Luxembourg. The court has actively established its jurisdiction and its right to overrule national law when it conflicts with EU law. -commercial transactions

private international law

Focuses on regulation of private individuals and business entities

public international law

Primarily addresses relations between individual countries and international organizations

World International Property Organization (WIPO)

arbitration center for solving disputes involving patents, trademarks, and copyrights

international arbitration

arbitration of disputes between parties to international commercial contracts

which international legal systems use written law as their highest source of law?

civil law

organizational economic cooperation and development (OECD)

coordinates aid to develop countries in taking steps to eliminating corruption

Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS)

covers minimum requirements and standards for all areas of intellectual property protection of their trademarks by providing uniform, single-source process

United Nations

created after World War II to facilitate common international concerns on defense, trade, the protection of human rights, and other matters

soverign immunity

doctrine that stands for the proposition that with some expectations foreign nations are exempt from jurisdiction by U.S. courts (vise versa too)

World Trade Organization (WTO)

promotes and has certain authority over disputes involving trade barriers

ICC rules of arbitration

requires a document known as the terms of reference to be submitted to the arbitrator and the opposing party

FCA (Free Carrier)

seller provides transportation at the sellers expense only to the carrier named by the buyer

EXW (ex works)

seller will not deliver or transport goods

choice of law and forum clauses

terms of a contract that predetermine what nations laws and court system will be used in a potential lawsuit under that contract

which of the following is true of common law systems

they strongly favor use of case law, as opposed to legislation, as the ordinary means of expression of general law.