Key Terms
Definition
Small payments made to individuals WHO ARE NOT DECISION MAKERS to process routine tasks after a matter has already been
Solution
Most treaties include provisions requiring parties to submit to a treaty-created dispute resolution panel or a neutral t
Contrast with domestic law
Everyone within the US is subject to state and federal court jurisdiction whether they choose it or not. That is why ext
Custom
A widely accepted way of doing something.
Customary international law
A body of international rules that has become binding through a pattern of consistent, long-standing behavior through a
Example
A small payment to a clerk to process paperwork after a project has already been approved = grease payment = PERMITTED.
Historically governed
Rules of war, treatment of prisoners of war, human rights.
Modern trend
Reduce legal obligations to writing; have nations expressly agree to terms.
Treaty
An agreement between two or more nations governed by international law. Essentially a contract between sovereign nations
What it is
A multilateral treaty to promote international trade by reducing or eliminating trade barriers (tariffs and quotas) betw
History
Negotiated on and off since the 1940s. In 1995, GATT members created the WTO.
Purpose
Allow domestic markets time to adjust to the import surge.
Adoption
The US and most trading partners (EXCEPT the United Kingdom) have adopted CISG. Governs over two-thirds of the world's t
EU (European Union)
One of the most well-known regional trade blocs.
Export
To transport products to another nation.