I believe the answer is The bank secrecy Act.
Prior to this act, the government cannot (under any circumstances) force banks to Record information about any transactions made by certain organizations/individuals.
This act force the banks to made the record if the amount surpasses $10,000 in order to prevent money laundering.
Based on the situation, that was an example of : Free-Rider problems
Free-rider problems refer to a condition when an individual either consume more than the fair share or pay less than the fair share.
Hope this helps
The primary difference between the federal government and the state governments is the scope of their legal powers. The federal government is expressly given the power to make and veto laws, oversee national defense and foreign policy, impeach officials, impose tariffs and enter into treaties. The federal government, through the Supreme Court, also has the power to interpret and revise laws and intercede when one state is impeding on the rights of another.
Answer:
establishing a foundation of custom
Explanation:
According to my research on different commerce laws and agreements, I can say that based on the information provided within the question in doing this, the two officials are establishing a foundation of custom. This foundation is later used as an origin point of international law between both parties or nations to look back on and use for further agreements.
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In 1519 Ferdinand Magellan sailed from Spain to the South Atlantic, navigating the straits named after him and entering the Pacific Ocean. In 1524, Florentine explorer Giovanni da Verrazzano, in the service of the King Francis I of France, explored the Atlantic coast of North America from Florida to New Brunswick.
