International Trade Law Test A and Answer (2006)

International Trade Law Test A and Answer (2006) - 2005...

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Unformatted text preview: 2005 2006 02 A0 IT True or FalseT 30%T 1TDespite the lack of international law-making machinery, states function informally as both lobbyists and legislators. 2T The customary rules that govern treaties are now codified in the Vienna Convention on the Law of Treaties. 3T According to the doctrine of incorporation, customary international laws are treated as adopted by a municipal court to the extent that they are not inconsistent with prior municipal legislation or judicial decisions of final authority. 4 T To avoid any possible connotation that recognition also means approval, many governments have adopted the Estrada Doctrine of never formally recognizing other governments. 5T An intergovernmental organization is a permanent organization set up by two or more states to carry on activities of common interest. 6TThe German Civil Code of 1896 is noted for being precise and technical. 7T According to the forum non conveniens doctrine, a court may refuse to exercise its power to hear a case when it is either inconvenient or unfair to do so. 8T Choice of law clauses are valid and enforceable in all municipal courts so long as they were freely entered into. 9T By giving their consent to an International Center for the Settlement of Investment Disputes (ICSID) arbitration, the parties implicitly agree not to seek any other remedy. 10T The Dispute Settlement Body is actually the WTO General Council convened under its own Chairman and following its own rules of procedure. 11T Diplomacy is the process of reconciling the parties to a disagreement by negotiation, mediation, or inquiry. 12TAn inquiry is a process used to determine a disputed fact or facts, but not resolve the entire dispute. 13TGATT 1947 was both a framework of rules and an institution. 14TThe WTO Ministerial Council meets at least every other year to oversee the operation of the WTO. 15 The most basic goal of the General Agreement on Tariffs and Trade (GATT 1994) is the progressive liberalization of world trade. 1 16T The General Agreement on Tariffs and Trade (GATT 1994) forbids (with few exceptions) member states from protecting their domestic industries by any means other than tariffs. 17 T A free trade area is an arrangement involving both the elimination of internal tariffs and the establishment of a common external tariff for member countries. 18 T The WTO Antidumping Code forbids WTO member states from dumping (i.e., introducing the commerce of one country into another at less than its normal value). 19T According to the United Nations Convention on Contracts for the International Sale of Goods (CISG), the damages which a breaching party is required to pay when the injured party entered into a good faith substitute transaction is the difference between the contract price and the price the injured party received (or paid) in the substitute transaction....
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This note was uploaded on 05/27/2011 for the course BUSINESS 401 taught by Professor Dr.rams during the Spring '11 term at Kentucky State University.

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International Trade Law Test A and Answer (2006) - 2005...

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