International Trade Law: Regulations and Governance - Lecture 2
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Questions and Answers

What does International Trade Law (ITL) regulate?

  • National currencies and their values
  • International travel and immigration laws
  • Domestic markets within a country
  • Global exchange of goods and services (correct)

    • Which branch of law does International Trade Law belong to?

  • International Law (correct)
  • Constitutional Law
  • Environmental Law
  • Criminal Law

    • What does International Law govern?

  • Individual rights and freedoms within a country
  • Domestic trade laws within a country
  • Local business transactions within a country
  • Conducts of states and international organizations in their international relations (correct)

    • What does International Trade involve that makes it more complex?

    <p>Involvement of different national currencies</p> Signup and view all the answers

    What does International Law regulate in addition to activities outside the legal boundaries of nations?

    <p>Human rights within a country</p> Signup and view all the answers

    What are the characteristics of International Trade Law (ITL) according to the text?

    <p>It has characteristics of International Law</p> Signup and view all the answers

    What is the main function of the International Court of Justice (ICJ)?

    <p>To settle legal disputes between states in accordance with international law</p> Signup and view all the answers

    What does the International Court of Justice (ICJ) look to in order to determine the content of international law?

    <p>General principles of law</p> Signup and view all the answers

    What is the composition of the International Court of Justice (ICJ)?

    <p>15 judges elected for terms of office of nine years</p> Signup and view all the answers

    What is a formal agreement between two or more legal persons regulating their international relations, being subject to international law?

    <p>International treaty</p> Signup and view all the answers

    What is the significance of customary international law?

    <p>It cannot be altered by any means</p> Signup and view all the answers

    What are the sources that the International Court of Justice (ICJ) is permitted to use in determining the content of international law?

    <p>International conventions, international custom, and general principles of law</p> Signup and view all the answers

    What are some elements involved in determining whether a practice may form the basis of a binding international custom?

    <p>Duration, consistency, repetition, and generality of the practice</p> Signup and view all the answers

    What is the subject matter that Private International Law deals with?

    <p>Disputes between individuals and companies where the law of more than one nation applies</p> Signup and view all the answers

    What term refers to a formal agreement between two or more legal persons regulating their international relations?

    <p>International convention</p> Signup and view all the answers

    What is Public International Law focused on?

    <p>Rules apply to countries &amp; other international actors in the international community</p> Signup and view all the answers

    What are some authorized sources for determining the content of international law?

    <p>International conventions, judicial decisions, teachings of law reviews.</p> Signup and view all the answers

    What are some reasons for the obligation effect in treaties?

    <p>Shared sense of commitment and fear that other countries will not respect theirs.</p> Signup and view all the answers

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