Business Law- International Law
Study Guide
tariff - A tax on imported goods.
quota - It is a government-imposed trade restriction that limits the number, or
sometimes the value, of goods and services that can be imported or exported during a
particular time period.
Space law - Law consisting of the international and national laws that govern activities
in outer space.
normal trade relations (NTR) status - A status granted through an international treaty by
which each member nation must treat other members at least as well as it treats the
country that receives its most favorable treatment. This status was formerly known as
most-favored-nation status.
Dumping - The selling of goods in a foreign country at a price below the price charged
for the same goods in the domestic market.
Tariffs - A tax on imported goods.
quotas - It is a government-imposed trade restriction that limits the number, or
sometimes the value, of goods and services that can be imported or exported during a
particular time period.
distribution agreement - A contract between a seller and a distributor of the seller's
products setting out the terms and conditions of the distributorship.
export - To sell products to buyers located in other countries.
sovereign immunity - A doctrine that immunizes foreign nations from the jurisdiction of
U.S. courts when certain conditions are satisfied.
confiscation - A government's taking of privately owned business or personal property
without a proper public purpose or an award of just compensation.
Expropriation - The seizure by a government of privately owned business or personal
property for a proper public purpose and with just compensation.
act of state doctrine - A doctrine that provides that the judicial branch of one country will
not examine the validity of public acts committed by a recognized foreign government
within its own territory.
