International Law and Trade Agreements Quiz

International Law

• Governs interactions between nations and business transactions across countries
• No single world legislative body, executive, or court for enforcement
• US Constitution provides the foundation for international law, specifically through the Foreign Commerce Clause
• Treaty Clause: President negotiates but treaties require 2/3 Senate approval to become law

Actors in International Law

• United Nations (UN): 193 member countries, led by a Secretary-General elected by the General Assembly
• General Assembly: UN's legislative branch, focuses on human rights, trade, finance, and commerce

UN Bodies

• Security Council (15 members, 5 permanent, 10 rotating) responsible for maintaining international peace.
• International Monetary Fund (IMF): Promotes sound monetary and macroeconomic policies worldwide, with 189 members.
• World Bank: Provides funds to developing countries for humanitarian projects and poverty alleviation.
• UNICEF: Agency focused on the lives of children globally.
• UNESCO: Promotes education, science, and culture.
• International Court of Justice (ICJ): UN's judicial branch, situated in The Hague, Netherlands. Nations can’t be forced to participate in court cases, only those countries that submit to the jurisdiction of the court can be subjected to the ICJ's decisions, which apply only to those states that have agreed to abide by the decisions.

International Law Agreements

• GATT (General Agreement on Tariffs and Trade): Established international trade agreements, aiming to reduce trade restrictions
• WTO (World Trade Organization): An international organization of 160 members promoting international trade agreements
• WTO Panels: Bodies of judges handling trade disputes between nations.
• WTO Appellate Body: Reviews decisions from dispute panels, consisting of 7 judges.
• International Chamber of Commerce (ICC): Organization providing incoterms which defines the responsibilities of parties in international trade transactions.

International Law Concepts

• International Court of Arbitration (ICA): Forum for settling disputes among nations through arbitration, run by the ICC.
• Public International Law: governing relationships between countries and international organizations
• Private International Law: governing cross-border commerce involving private parties.

Types of International Agreements

• Treaties: Agreements between two or more states
• Bilateral Treaties: Agreements between two states
• Multilateral Treaties: Agreements among multiple states
• Protocols: Amendments to treaties
• Conventions: Agreements setting standards or principles
• Customary International Law: Binding rules arising from consistent state practice
• Jus Cogens: Fundamental legal principles that can't be changed, found in customary international law
• Act of State Doctrine: Doctrine stating a country's judge cannot question another country's actions within its borders.
• Sovereign Immunity: Doctrine stating a country's courts can't hear cases against a foreign government.
• Foreign Sovereign Immunities Act (FSIA): US statute that limits when US courts can hear cases against foreign governments
• Extra-territoriality: A country’s power to extend its laws outside its national borders

Trade Agreements

• Regional Trade Agreements (Examples: NAFTA, USMCA, EU): Agreements between countries in a region to promote trade.
• Example of Regional Trade: (Examples: Mexico-Canada-US, the EU).
• Example of Bilateral trade: (Examples: USMCA.)

Legal Systems

• Civil Law: Primary source is statutory code, interpreted by courts. Examples: UK, Saudi Arabia
• Common Law: Rules developed by courts over time. Examples: US

Islamic Law

• Islamic law governs aspects.
• Sharia: Islamic law