INTB 1203 ANSWERS AND QUESTIONS SET A+
✔✔Common Law - ✔✔system of law based on tradition, precedent, and customs, (gives
judges more flexibility to interpret the law for each unique circumstances of a case)
✔✔Civil Law - ✔✔a system of law based on a very detailed set of written laws and
orders
✔✔Theocratic Law System - ✔✔law based on religious teachings
✔✔Contract - ✔✔document that specifies the conditions under which an exchange is to
occur and details the rights and obligations of the parties involved
✔✔Contract Law - ✔✔the body of law that governs contract enforcement
✔✔CIGS (acronym) - ✔✔United Nations Convention of Contracts for the International
Sale of Goods
✔✔CIGS (definition) - ✔✔set of rules governing certain aspects of contract agreements
between firms of different nations
✔✔Property Rights - ✔✔bundle of legal rights granting right of income from a specific
resource
✔✔Private Action - ✔✔the theft, piracy, and blackmail, by private individuals or groups
✔✔Public Action - ✔✔the extortion of income by public officials, such as politicians
✔✔Foreign Corrupt Practices Act - ✔✔U.S. law regulating bribes and unethical actions
in international trade
✔✔Intellectual Property (IP) - ✔✔ideas (music, books, art, designs) that can be
protected by patents, copyrights, and trademarks
✔✔Common Law - ✔✔system of law based on tradition, precedent, and customs, (gives
judges more flexibility to interpret the law for each unique circumstances of a case)
✔✔Civil Law - ✔✔a system of law based on a very detailed set of written laws and
orders
✔✔Theocratic Law System - ✔✔law based on religious teachings
✔✔Contract - ✔✔document that specifies the conditions under which an exchange is to
occur and details the rights and obligations of the parties involved
✔✔Contract Law - ✔✔the body of law that governs contract enforcement
✔✔CIGS (acronym) - ✔✔United Nations Convention of Contracts for the International
Sale of Goods
✔✔CIGS (definition) - ✔✔set of rules governing certain aspects of contract agreements
between firms of different nations
✔✔Property Rights - ✔✔bundle of legal rights granting right of income from a specific
resource
✔✔Private Action - ✔✔the theft, piracy, and blackmail, by private individuals or groups
✔✔Public Action - ✔✔the extortion of income by public officials, such as politicians
✔✔Foreign Corrupt Practices Act - ✔✔U.S. law regulating bribes and unethical actions
in international trade
✔✔Intellectual Property (IP) - ✔✔ideas (music, books, art, designs) that can be
protected by patents, copyrights, and trademarks
