Question 1

International agreements in the form of treaties:

Accepted Answer

A) require approval by a majority vote of the United States Senate. 
B) require approval by a two-thirds vote of the United States Senate. 
C) require no approval from Congress. 
D) are explicitly mentioned in the U.S.Constitution as a power given solely to Congress. 
A) require approval by a majority vote of the United States Senate. 
B) require approval by a two-thirds vote of the United States Senate. 
C) require no approval from Congress. 
D) are explicitly mentioned in the U.S.Constitution as a power given solely to Congress. B

Question 2

Confiscation of property by a foreign government for nonpublic purposes without adequate payment violates generally observed principles of international law.

Accepted Answer

A) True 
 B)False  True

Question 3

Even if a U.S.company does not export goods, it is influenced by international business through competition from other countries.

Accepted Answer

A) True 
 B)False  True

Question 4

The World Bank established the to encourage increased investment in developing nations.

Accepted Answer

A) Overseas Private Investment Corporation 
B) World Trade Organization 
C) Multilateral Investment Guarantee Agency 
D) Commission on International Trade 
A) Overseas Private Investment Corporation 
B) World Trade Organization 
C) Multilateral Investment Guarantee Agency 
D) Commission on International Trade

Question 5

The Convention on Contracts for the International Sales of Goods (CISG) includes which of the following provisions?

Accepted Answer

A) Interpretation and trade usage 
B) Intellectual property rights 
C) Obligations and remedies of sellers, but not buyers 
D) Profitability 
A) Interpretation and trade usage 
B) Intellectual property rights 
C) Obligations and remedies of sellers, but not buyers 
D) Profitability

Question 6

One risk of investing in foreign states is the risk that the host nation's government may take the investment property.

Accepted Answer

A) True 
 B)False

Question 7

The CISG specifically excludes sales of which of the following?

Accepted Answer

A) Goods bought for personal, family, or household use 
B) Ships or aircraft 
C) Electricity 
D) All of these 
A) Goods bought for personal, family, or household use 
B) Ships or aircraft 
C) Electricity 
D) All of these

Question 8

The European Community was formed through a merger between the Common Market, the European Coal and
Steel Community, and the European Atomic Energy Community.

Accepted Answer

A) True 
 B)False

Question 9

Kelly has been appointed the manager of a company that has just begun the direct export of its product.What precautions should he take to assure that the company would in fact be paid for its products when the company has never dealt with the buyer before and is new to the international legal environment?

Accepted Answer

The company should have a good working r

Question 10

How does a distributor differ from an agent?

Accepted Answer

A) The agent pays royalties to the multinational enterprise. 
B) The distributorship shares profits with the multinational enterprise. 
C) The distributor takes title to the merchandise it receives and thereby bears many of the risks connected with commercial sales. 
D) The distributor has the power to enter into contracts on the principal's behalf, but the agent does not. 
A) The agent pays royalties to the multinational enterprise. 
B) The distributorship shares profits with the multinational enterprise. 
C) The distributor takes title to the merchandise it receives and thereby bears many of the risks connected with commercial sales. 
D) The distributor has the power to enter into contracts on the principal's behalf, but the agent does not.

Question 11

The judicial branch for the United Nations is called the International Court of Justice.

Accepted Answer

A) True 
 B)False

Question 12

Businesses which wish to safeguard their technology while doing business in the international sector would not want to consider the use of wholly owned subsidiaries.

Accepted Answer

A) True 
 B)False

Question 13

A foreign agent is used by multinational enterprises to take title to merchandise and bear the risks connected with international sales.

Accepted Answer

A) True 
 B)False

Question 14

International contracts should specify the contract's official language and define all of the significant legal terms used.

Accepted Answer

A) True 
 B)False

Question 15

Under the Foreign Sovereign Immunities Act, a foreign state is:

Accepted Answer

A) immune from all suits in the United States. 
B) immune from suits in the United States involving public acts, but not commercial acts. 
C) not immune from any type of suit in the United States. 
D) None of these. 
A) immune from all suits in the United States. 
B) immune from suits in the United States involving public acts, but not commercial acts. 
C) not immune from any type of suit in the United States. 
D) None of these.

Question 16

The International Court of Justice consists of nine judges, only two of whom can be from the same sovereign state.

Accepted Answer

A) True 
 B)False

Question 17

A foreign company partially owned by the foreign government, manufactures televisions in the foreign country.The cost to the company for the manufacture of the product in the U.S.is the equivalent of $100.Because of excess production, the firm exports 5,000 sets to the United States where they are sold for $120 each.If the nearest rival U.S.-made set sells for $150, the action of the company:

Accepted Answer

A) constitutes price-fixing. 
B) violates the WTO anti-dumping provisions. 
C) violates the Sherman Act, because of the involvement of the foreign government in the company. 
D) appears to be legal. 
A) constitutes price-fixing. 
B) violates the WTO anti-dumping provisions. 
C) violates the Sherman Act, because of the involvement of the foreign government in the company. 
D) appears to be legal.

Question 18

The European Community (EC) preceded the European Union (EU) and worked to remove trade barriers between member nations.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following statements is true?

Accepted Answer

A) The International Court of Justice renders binding decisions and advisory opinions to the many nations that submit their disputes to it. 
B) The International Court of Justice is the judiciary branch of the United Nations, and its judges are elected by a majority of both the U.N.General Assembly and the U.N.Security Council. 
C) The International Court of Justice was formed as the judiciary branch of the EC. 
D) The International Court of Justice is very useful, in part because nations as well as private individuals and corporations may be parties to an action before the court. 
A) The International Court of Justice renders binding decisions and advisory opinions to the many nations that submit their disputes to it. 
B) The International Court of Justice is the judiciary branch of the United Nations, and its judges are elected by a majority of both the U.N.General Assembly and the U.N.Security Council. 
C) The International Court of Justice was formed as the judiciary branch of the EC. 
D) The International Court of Justice is very useful, in part because nations as well as private individuals and corporations may be parties to an action before the court.

Question 20

An increasing number of Americans enjoy French truffles and are willing to pay a premium price for the product.If the three leading French truffle firms meet in Paris and decide to raise prices in the American market by 15%, does this act violate the Sherman Act?

Accepted Answer

The Sherman Act has broad, extraterritor

Exam 46: International Business Law

International agreements in the form of treaties:

Confiscation of property by a foreign government for nonpublic purposes without adequate payment violates generally observed principles of international law.

Even if a U.S.company does not export goods, it is influenced by international business through competition from other countries.

The World Bank established the to encourage increased investment in developing nations.

The Convention on Contracts for the International Sales of Goods (CISG) includes which of the following provisions?

One risk of investing in foreign states is the risk that the host nation's government may take the investment property.

The CISG specifically excludes sales of which of the following?

The European Community was formed through a merger between the Common Market, the European Coal and Steel Community, and the European Atomic Energy Community.

How does a distributor differ from an agent?

The judicial branch for the United Nations is called the International Court of Justice.

Businesses which wish to safeguard their technology while doing business in the international sector would not want to consider the use of wholly owned subsidiaries.

A foreign agent is used by multinational enterprises to take title to merchandise and bear the risks connected with international sales.

International contracts should specify the contract's official language and define all of the significant legal terms used.

Under the Foreign Sovereign Immunities Act, a foreign state is:

The International Court of Justice consists of nine judges, only two of whom can be from the same sovereign state.

The European Community (EC) preceded the European Union (EU) and worked to remove trade barriers between member nations.

Which of the following statements is true?

An increasing number of Americans enjoy French truffles and are willing to pay a premium price for the product.If the three leading French truffle firms meet in Paris and decide to raise prices in the American market by 15%, does this act violate the Sherman Act?

Introduction to Law

Business Ethics and the Social Responsibility of Business

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance, Breach, and Discharge

Contract Remedies

Relationship of Principal and Agent

Relationship With Third Parties

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Products Liability: Warranties and Strict Liability in Tort

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transfers

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature, Formation, and Powers

Financial Structure

Management Structure

Fundamental Changes

Secured Transactions and Suretyship

Bankruptcy

Protection of Intellectual Property

Antitrust

Consumer Protection

Employment Law

Securities Regulation

Accountants Legal Liability

Environmental Law

Introduction to Property, Property Insurance, Bailments, and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Decedents Estates

51: The Legal Environment Of Business

52: Contracts.

53: Agency.

54: Sales

55: Negotiable Instruments

56: Unincorporated Business Association

57: Corporations

58: Debtor and Creditor Relation

59: Regulation of Business

60: Property.

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