Chapter 52 International Law in a Global Economy.pptVIP

Chapter 52International Lawin a Global Economy Introduction International Law. Body of law - formed as a result of international customs, treaties, and organizations - that governs relations among or between nations. National Law. Law of a particular nation. § 1: International Law International law is the result of attempts to reconcile the need of each country to be the final authority over its own affairs and the desire to benefit from relations with one another. Sources of International Law Three Sources of International Law: International Customs. Treaties and International Agreements. International Organizations. Legal Principles and Doctrines The most important principles and doctrines applied in the interest of maintaining harmonious relations among nations: The Principle of Comity. The Act of State Doctrine. The Doctrine of Sovereign Immunity. The Principle of Comity One nation will defer and give effect to the laws and judicial decrees of another country, as long as those laws and judicial decrees are consistent with the law and public policy of the accommodating nation. The Act of State Doctrine Judicial branch of one country will not examine the validity of public acts committed by recognized foreign government within its own territory. This doctrine is often invoked to protect: Expropriation, and Confiscation. The Doctrine of Sovereign Immunity This doctrine exempts foreign nations from jurisdiction in U.S. courts. The Foreign Sovereign Immunities Act expanded the jurisdiction of U.S. courts for creditors of foreign governments. § 2: Doing Business Internationally Types of International Business Operations Exporting, through: An Agent. A Foreign Distributor. Manufacturing Abroad, through: Licensing. Franchising. Investing in a subsidiary or joint venture. § 3: Regulation of SpecificBusiness Activities Nations impose laws and controls to restrict or facilitate international business. Investing. Export Controls. Import Controls. CASE 52.1