Formation of International Trade Law - L2 (T/F Quiz)

International trade involves trade between two or more countries.

International Trade Law regulates the global exchange of goods and services.

International Trade Law is a branch of International Law.

International Law governs the conduct of states and international organizations in their international relations.

International Trade Law is regulated by the laws, rules, and regulations of the concerned countries.

International Trade Law has the characteristics of International Law.

International Organizations are comprised of states and serve different purposes. True or False?

International Law governs relationships between persons if they are not subjects of the same country. True or False?

Public International Law focuses on rules that apply to countries & other international actors in the international community. True or False?

Private International Law deals with disputes between individuals & companies in situations where the law of more than one nation apply. True or False?

International Economic Law involves regulations & rules governing conducts of international actors in across-border economic & business transactions. True or False?

Consensus of the international community is the basic mechanism for creating International Law. True or False?

According to Article 38(1) of the Statute of the International Court of Justice, the authorized sources of International Law include international conventions, international custom, and general principles of law. True or False?

The International Court of Justice is located in New York. True or False?

The principal judicial organ of the United Nations is the International Court of Justice. True or False?

The International Court of Justice settles legal disputes submitted to it by states and gives advisory opinions on legal questions referred to it by authorized United Nations organs and specialized agencies. True or False?

Customary international law refers to the legal norms that have developed through the customary exchanges between states over time, whether based on diplomacy or aggression. True or False?

Customary international law can be distinguished from treaty law, as it consists of explicit agreements between nations to assume obligations. True or False?