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A banker's acceptance is an instrument that represents a bank's commitment to make a requested future payment. The request will typically specify the payee, the amount, and the date on which it is eligible for payment. After acceptance, the request becomes an unconditional liability of the bank. Banker's acceptances are distinguished from ...
Guarantee Clause. The Guarantee Clause, also known as the Republican Form of Government Clause, is in Article IV, Section 4 of the United States Constitution. It requires the United States to guarantee every state a republican form of government and provide protection from foreign invasion and domestic violence.
Totalitarian democracy. A form of electocracy in which lawfully elected representatives maintain the integrity of a nation state whose citizens, while granted the right to vote, have little or no participation in the decision-making process of the government. Democratic Kampuchea(1975–1979) Electoral autocracy.
Legitimacy is "a value whereby something or someone is recognized and accepted as right and proper". [6] In political science, legitimacy has traditionally been understood as the popular acceptance and recognition by the public of the authority of a governing régime, whereby authority has political power through consent and mutual understandings, not coercion.
After five years, the federal government chartered its successor, the Second Bank of the United States (1816–1836). James Madison signed the charter with the intention of stopping runaway inflation that had plagued the country during the five-year interim. It was essentially a copy of the First Bank, with branches across the country.
Constitution of the United States. The Constitution of the United States is the supreme law of the United States. [ 3 ] It superseded the Articles of Confederation, the nation's first constitution, on March 4, 1789. Originally including seven articles, the Constitution delineates the frame of the federal government.
t. e. Authoritarianism is a political system characterized by the rejection of political plurality, the use of strong central power to preserve the political status quo, and reductions in democracy, separation of powers, civil liberties, and the rule of law. [ 1 ][ 2 ] Political scientists have created many typologies describing variations of ...
Liberalism, liberal values and liberal institutions formed an integral part of that process of European consolidation. Fifteen years after the end of the Second World War, the liberal and democratic identity of Western Europe had been reinforced on almost all sides by the definition of the West as a place of freedom.