GEB 3373 Midterm: exam 1 review b

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Middle powers: denmark and norway negotiating deals and maintaining peace. Common law: us, uk, australia, canada, india; precedents set by prior judicial decisions; statutory laws enacted by the legislature. Civil law: continental europe & louisiana; based on roman and french napoleonic law; codification. World justice project-rule of law index: ranks countries on a scale that measures the extent they enforce regulations; top ranking: denmark, norway, finland; bottom-ranking: venezuela, cambodia, afghanistan. Embargo: total sanction against all commerce with a country (us with cuba) Extraterritoriality: a country tries to regulate business activities outside of its borders; helms-burton act (1996) to further isolate cuba. Nationalization: gov. seizes ownership of a private firm; expropriation: offers compensation to owners; Privatization: gov. owned property is converted to private property; increases economic efficiency. Repatriate earnings: bring profits earned abroad back home. Forum shopping: attempts to have the case heard in a country where the laws are most favorable.

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