Chapter 11: International Law Flashcards
League of Nations
Created by Woodrow Wilson after WWI; US did not join because of fighting in congress
How was the UN formed?
During WWII, 50 nations met in San Fran to draw up a charger for an international body to replace the league of nations
What percent of our profits come from international transactions?
50%
Can you just do business in another country?
Many steps to do this process; Exporting is a privilege, the company needs a license
International Law
Governs the relationships among countries
Globalization
Process of global businesses supported by governments to deregulate and liberalize world markets and redefine the legal rules that govern commercial relationships
Why has there been an increase in globalization?
Changes in transportation, communications, and computer technology
What does International Law deal with?
Rules, principles, and customs that govern the dealing between countries and the obligations and protections of the citizens of one country towards the people of another nation
Why is International Law more difficult than Domestic business operations?
Countries act in their self-interests
Public International Law
Examines relationships among nations and uses rules, treaties, and conventions that are binding on all countries
Treaties
Determines rules under which world traders can conduct business activities within each others territories
Who does a treaty bind?
Only the countries who are parties (sign it)
Bilateral Treaty
Agreement between 2 nations (China/N. Korea trade deal)
Multilateral Treaty
Agreement between more than two nations
Where does the authority come from in the US to enter a treaty?
US Constitution gives the President the power with the consent of the Senate to make treaties
Convention
An agreement negotiated by members of international organizations, which document is then open to adoption by other nations
Warsaw Convention
Originally limited damages to $75,000 on International flights unless there is willful misconduct on part of airline (still in effect today)
Panam Airline
Panam had tip that one of their planes had a bomb threat, didn’t tell people, so the people could sue because this was considered willful and wanton misconduct
Reverse Side of Ticket
Tells you the terms and conditions of the flight (Warsaw Convention)
Protocol
A treaty of international agreement that supplements a previous treaty/international agreement; Can amend the previous treaty or add additional provisions; Parties to earlier agreement not required to adopt protocol
1991 Protocol on Environmental Protection to the Antarctic Treaty
Created an environmental protection regime in Antartica
Private International Law
Looks at the laws applicable to private parties in their business affairs when they are from different nations