Tag: International Law and the Nature of Sovereignty

International law, also known as the law of nations, international ethics, or public international policy, is a body of rules and standards recognized as binding on nations. International law is particularly important in the international business arena, where there is a constant exchange of goods and services. To understand international law, it helps to understand how nations are governed by these laws. However, a fundamental question in understanding international law is the nature of sovereignty. Although this question has a number of complex and controversial answers, there are several fundamental aspects to its formation. Principles The basic principles of international law are similar to those found in national legal systems. They draw their authority from implied consent bet...