Question 1

An Import duties is a kinds of non- tariff barrier.

Accepted Answer

A) True 
 B)False  False

Question 2

Where it is determined that a country has dumped its goods in another country, the recipient country may impose trade related investment measures.

Accepted Answer

A) True 
 B)False  False

Question 3

Countertrade

Accepted Answer

A)  requires consuming the goods acquired in exchange. 
B)  is where a seller agrees to accept trade credits instead of cash. 
C)  is where payment is made in goods produced or procured by the buyer. 
D)  is not worthwhile where exchange controls exist. 
E)  involves less risk than does the simple sale. 
A)  requires consuming the goods acquired in exchange. 
B)  is where a seller agrees to accept trade credits instead of cash. 
C)  is where payment is made in goods produced or procured by the buyer. 
D)  is not worthwhile where exchange controls exist. 
E)  involves less risk than does the simple sale. C

Question 4

The disadvantage of commercial arbitration, as a method of resolving international disputes, as compared to court litigation is

Accepted Answer

A)  the public nature of the proceedings. 
B)  the difficulty in having the awards of the court enforced. 
C)  that arbitrators generally have less experience in international law than judges. 
D)  the forfeiture of opportunity to be in one's own "home" court. 
E)  the slowness in making decisions. 
A)  the public nature of the proceedings. 
B)  the difficulty in having the awards of the court enforced. 
C)  that arbitrators generally have less experience in international law than judges. 
D)  the forfeiture of opportunity to be in one's own "home" court. 
E)  the slowness in making decisions.

Question 5

Public international law is

Accepted Answer

A)  law involving the relationships between states. 
B)  law involving the relations between citizens of different countries as it concerns their private activities. 
C)  law involving the relations between the citizens of different countries as it concerns their public activities. 
D)  law involving the relations between public entities from different countries. 
E)  law involving the relations between public officials of different countries. 
A)  law involving the relationships between states. 
B)  law involving the relations between citizens of different countries as it concerns their private activities. 
C)  law involving the relations between the citizens of different countries as it concerns their public activities. 
D)  law involving the relations between public entities from different countries. 
E)  law involving the relations between public officials of different countries.

Question 6

Explain the test that is applied in Canada before the foreign acquisition of a large Canadian business is authorized.

Accepted Answer

Canada applies what is referred to a the

Question 7

What is meant by the proper law of a contract?

Accepted Answer

The law of the count

Question 8

The General Agreement on Tariffs and Trade (GATT) which came into existence in 1948, was superceded in 1995 by

Accepted Answer

A)  several regional packs including NAFTA. 
B)  Tribunal Panels to adjudicate disputes. 
C)  the World Trade Organisation (WTO). 
D)  the most- favoured- nation (MFN) treatment. 
E)  series of "rounds" such as the Uruguay Round. 
A)  several regional packs including NAFTA. 
B)  Tribunal Panels to adjudicate disputes. 
C)  the World Trade Organisation (WTO). 
D)  the most- favoured- nation (MFN) treatment. 
E)  series of "rounds" such as the Uruguay Round.

Question 9

In the exporting of services, one area of considerable risk is the transfer of technology and the sale or use of intellectual property. Explain and give examples of how this is true.

Accepted Answer

In the transfer of such property, the ho

Question 10

Tariffs and import duties in Canada are

Accepted Answer

A)  are for the most part determined unilaterally. 
B)  administered by Revenue Canada by virtue of the Customs Act. 
C)  no longer used with Canada's trading partners. 
D)  currently a major source of federal revenue. 
E)  used to protect domestic industry from high- tech competition. 
A)  are for the most part determined unilaterally. 
B)  administered by Revenue Canada by virtue of the Customs Act. 
C)  no longer used with Canada's trading partners. 
D)  currently a major source of federal revenue. 
E)  used to protect domestic industry from high- tech competition.

Question 11

Explain the doctrine of forum non conveniens.

Accepted Answer

When a dispute involving an internationa

Question 12

In a countertrade, the seller agrees to accept payment in the form of goods procured or produced by the buyer.

Accepted Answer

A) True 
 B)False

Question 13

A seller in Ontario is sending goods by train to a buyer in Michigan under an FOB contract. The seller's obligations have been satisfied when:

Accepted Answer

A)  the buyer is satisfied with the goods 
B)  the goods cross the border from Canada to the United States 
C)  the goods have been delivered to the buyer 
D)  goods that conform to the contract have been delivered to the rail company 
E)  the buyer has paid for the goods 
A)  the buyer is satisfied with the goods 
B)  the goods cross the border from Canada to the United States 
C)  the goods have been delivered to the buyer 
D)  goods that conform to the contract have been delivered to the rail company 
E)  the buyer has paid for the goods

Question 14

What is the proper law of an international contract?

Accepted Answer

The proper law is the law the parties in

Question 15

The practice whereby goods are sold for prices that are below that for which the goods are sold in the country of origin, is called subsidy.

Accepted Answer

A) True 
 B)False

Question 16

Regarding foreign investment, which is the distinction between a portfolio investment and a direct investment?

Accepted Answer

Portfolio investments are passive invest

Question 17

Which of the following is prohibited by the World Trade Organisation?

Accepted Answer

A)  currency restrictions on cash imports from Canada 
B)  import quotas on beer from the United States 
C)  tariffs on imported steel from Malaysia 
D)  the creation of regional free- trade areas 
E)  licensing of international motor transport carriers 
A)  currency restrictions on cash imports from Canada 
B)  import quotas on beer from the United States 
C)  tariffs on imported steel from Malaysia 
D)  the creation of regional free- trade areas 
E)  licensing of international motor transport carriers

Question 18

Which of the following is NOT one of the services that the Canadian government provides to assist Canadian companies to compete in the global market?

Accepted Answer

A)  Some International aid programs require the money to be used on Canadian products and services. 
B)  The Export Development Council provide insurance, guarantees, and financial services for Canadian exporters. 
C)  The federal government provides tax credits for the export sales of Canadian products. 
D)  The embassy staff abroad collects commercial information and disseminate it to Canadian business. 
E)  Canadian International Development Agency require a substantial Canadian content. 
A)  Some International aid programs require the money to be used on Canadian products and services. 
B)  The Export Development Council provide insurance, guarantees, and financial services for Canadian exporters. 
C)  The federal government provides tax credits for the export sales of Canadian products. 
D)  The embassy staff abroad collects commercial information and disseminate it to Canadian business. 
E)  Canadian International Development Agency require a substantial Canadian content.

Question 19

Agricultural products fall within the scope of NAFTA.

Accepted Answer

A) True 
 B)False

Question 20

The best means of establishing the proper law for an international contract is

Accepted Answer

A)  for the parties to leave it by default to the country of signing. 
B)  for the parties themselves to make express provision. 
C)  to accept the same country where the contract would be submitted for arbitration. 
D)  for the parties to leave it up to the rules of the court of jurisdiction. 
E)  for the parties to make it subject to a "neutral" law. 
A)  for the parties to leave it by default to the country of signing. 
B)  for the parties themselves to make express provision. 
C)  to accept the same country where the contract would be submitted for arbitration. 
D)  for the parties to leave it up to the rules of the court of jurisdiction. 
E)  for the parties to make it subject to a "neutral" law.

Exam 33: International Business Transactions

An Import duties is a kinds of non- tariff barrier.

Where it is determined that a country has dumped its goods in another country, the recipient country may impose trade related investment measures.

Countertrade

The disadvantage of commercial arbitration, as a method of resolving international disputes, as compared to court litigation is

Public international law is

Explain the test that is applied in Canada before the foreign acquisition of a large Canadian business is authorized.

What is meant by the proper law of a contract?

The General Agreement on Tariffs and Trade (GATT) which came into existence in 1948, was superceded in 1995 by

In the exporting of services, one area of considerable risk is the transfer of technology and the sale or use of intellectual property. Explain and give examples of how this is true.

Tariffs and import duties in Canada are

Explain the doctrine of forum non conveniens.

In a countertrade, the seller agrees to accept payment in the form of goods procured or produced by the buyer.

A seller in Ontario is sending goods by train to a buyer in Michigan under an FOB contract. The seller's obligations have been satisfied when:

What is the proper law of an international contract?

The practice whereby goods are sold for prices that are below that for which the goods are sold in the country of origin, is called subsidy.

Regarding foreign investment, which is the distinction between a portfolio investment and a direct investment?

Which of the following is prohibited by the World Trade Organisation?

Which of the following is NOT one of the services that the Canadian government provides to assist Canadian companies to compete in the global market?

Agricultural products fall within the scope of NAFTA.

The best means of establishing the proper law for an international contract is

Law and Society

The Machinery of Justice

The Law of Torts

Professional Liability

Formation of a Contract: Offer and Acceptance

Formation of a Contract: Consideration, and Intention to Create Legal Relations

Formation of a Contract: Capacity to Contract and Legality of Object

Grounds Upon Which a Contract May Be Impeached: Mistake

Grounds Upon Which a Contract May Be Impeached: Misrepresentation, Undue Influence, and Duress

The Requirement of Writing

The Interpretation of Contracts

Privity of Contract and the Assignment of Contractual Rights

The Discharge of Contracts

The Effect of Breach

Remedies for Breach

Sale of Goods

Leasing and Bailment

Insurance and Guarantee

Agency and Franchising

The Contract of Employment

Negotiable Instruments

Intellectual Property

Interests in Land and Their Transfer

Landlord and Tenant

Mortgages of Land and Real Estate Transactions

Sole Proprietorships and Partnerships

The Nature of a Corporation and Its Formation

The Internal Affairs of Corporations

The External Responsibilities of a Corporation

Secured Transactions

Creditors Rights

Government Regulation of Business

Electronic Commerce

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