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Chapter 9

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Act of State Doctrine   show
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Choice-of-Language Clause   show
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Choice-of-Law Clause   show
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show The principle by which one nation defers to and gives effect to the laws and judicial decrees of another nation. This recognition is based primarily on respect.  
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show A government’s taking of a privately owned business or personal property without a proper public purpose or an award of just compensation.  
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Correspondent Bank   show
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Distribution Agreement   show
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show The selling of goods in a foreign country at a price below the price charged for the same goods in the domestic market.  
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Export   show
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show The seizure by a government of a privately owned business or personal property for a proper public purpose and with just compensation.  
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show A provision in a contract stipulating that certain unforeseen events—such as war, political upheavals, or acts of God—will excuse a party from liability for nonperformance of contractual obligations.  
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show A worldwide system in which foreign currencies are bought and sold.  
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Forum-Selection Clause   show
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Letter of Credit   show
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Normal Trade Relations (NTR) Status   show
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show A set limit on the amount of goods that can be imported.  
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Sovereign Immunity   show
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show A tax on imported goods.  
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Treaty   show
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