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20 Cards in this Set

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A rule requiring American courts to abstain from cases if a court order would interfere with the ability of the President or Congress to conduct foreign policy.
Act of State doctrine
A receipt for goods, given by a carrier such as a ship, that minutely describes the merchandise being shipped. A negotiable bill of lading may be transferred to other parties and entitles any holder to collect the goods.
Bill of lading
The process by which the Customs Service decides what label to attach to imported merchandise, and therefore what level of tariff to impose.
Classification
A doctrine that requires a court to abstain from hearing a case out of respect for another court that also has jurisdiction. International comity demands that an American court refuse to hear a case in which a foreign court shares jurisdiction if there is a conflict between the laws and if it is more logical for the foreign court to take the case.
Comity
without adequate compensation of property owned by foreigners.
Confiscation Expropriation
Selling merchandise at one price in the domestic market and at a cheaper, unfair price in an international market.
Dumping
A tax imposed on imported items.
Duty
A government's seizure of property or companies owned by foreigners.
Expropriation
A federal statute that protects other nations from suit in courts of the United States, except under specified circumstances.
Foreign Sovereign Immunity Act
General Agreement on Tariffs and Trade.
GATT
Anything movable, except for money, securities, and certain legal rights.
Goods
To transport goods or services into a country.
Import
A commercial device used to guarantee payment in international trade, usually between parties that have not previously worked together.
Letter of credit
A corporation that is doing business in more than one country simultaneously.
Multinational enterprise
A government's seizure of property or companies.
Nationalization
A commercial association among Canada, the United States, and Mexico designed to eliminate almost all trade barriers.
North American Free Trade Agreement
A person, company, or nation that has signed a legal document, such as a contract, agreement, or treaty.
Signatory
The right of a national government to be free of lawsuits brought in foreign courts.
Sovereign immunity
A duty imposed on imported goods by the government of the importing nations.
Tariff
A process by which the Customs Service determines the fair value of goods being imported, for purposes of imposing a duty.
Valuation