Question 1

What is a major difference between a United States lawsuit versus a French lawsuit?

Accepted Answer

A)  In a French civil lawsuit, there is usually no right to a jury trial. 
B)  The French legal system does not engage in extensive discovery procedures commonly used in the United States. 
C)  In a French lawsuit, the rules of evidence are more flexible. 
D)  All of the above are correct. 
A)  In a French civil lawsuit, there is usually no right to a jury trial. 
B)  The French legal system does not engage in extensive discovery procedures commonly used in the United States. 
C)  In a French lawsuit, the rules of evidence are more flexible. 
D)  All of the above are correct. D

Question 2

For manufactured goods,the United States and European Union impose an average tariff of ________ percent,and major trading partners around the world impose tariffs of ________ percent for identical items.

Accepted Answer

A)  10; 5 
B)  less than 4; 10 to 30 
C)  25; 39 to 70 
D)  10 to 30; less than 4 
A)  10; 5 
B)  less than 4; 10 to 30 
C)  25; 39 to 70 
D)  10 to 30; less than 4 B

Question 3

The United States and Singapore have signed the Convention on Contracts for the International Sale of Goods (CISG).Notren,Inc.,a U.S.company,and SWT,a Singapore company,have entered into a contract under which SWT is to ship party supplies to Notren.One of the terms of the contract states,"The validity and performance of this contract will be governed by the Uniform Commercial Code (UCC)of the state of New York,not the Convention of the International Sale of Goods (CISG)." The contract will be governed by the:

Accepted Answer

A)  CISG. 
B)  Uniform Commercial Code of New York. 
C)  common law. 
D)  World Trade Law. 
A)  CISG. 
B)  Uniform Commercial Code of New York. 
C)  common law. 
D)  World Trade Law. B

Question 4

The United States is the world's largest exporter of agricultural products.

Accepted Answer

A) True 
 B)False

Question 5

When considering both imports and exports,the country trading the most goods with the United States is:

Accepted Answer

A)  Canada. 
B)  China. 
C)  Japan. 
D)  Mexico. 
A)  Canada. 
B)  China. 
C)  Japan. 
D)  Mexico.

Question 6

Hardhat Machine Company sold goods to Irish Eyes Company of Northern Ireland.Big Bank issued a letter of credit on behalf of Irish Eyes and the letter was given to Hardhat.The "account party" is:

Accepted Answer

A)  Irish Eyes. 
B)  Hardhat Machine Company. 
C)  Big Bank. 
D)  None of the above. 
A)  Irish Eyes. 
B)  Hardhat Machine Company. 
C)  Big Bank. 
D)  None of the above.

Question 7

MagNet is a U.S.company based in Utah.It is negotiating to sell $4 million worth of computer goods to a French company,L'la.L'la is insisting that the contract be governed by the CISG.What are some of the primary differences between the UCC and the CISG?

Accepted Answer

Under the UCC,a contract for the sale of

Question 8

The Australian government has opened a for-profit tourist information center in New York City.If a dispute arises over the lease of the storefront,may the landlord sue the Australian government in the United States courts?

Accepted Answer

A)  Yes, because the Australian government was engaged in a commercial activity. 
B)  No, because of the Foreign Sovereign Immunities Act which forbids U.S. courts from hearing any cases involving foreign governments. 
C)  It depends. The Australian government can only be sued if it signed a written waiver giving up its immunity. 
D)  It depends. The Australian government can only be sued if it is a signatory on the CISG. 
A)  Yes, because the Australian government was engaged in a commercial activity. 
B)  No, because of the Foreign Sovereign Immunities Act which forbids U.S. courts from hearing any cases involving foreign governments. 
C)  It depends. The Australian government can only be sued if it signed a written waiver giving up its immunity. 
D)  It depends. The Australian government can only be sued if it is a signatory on the CISG.

Question 9

With respect to United States patents and copyrights,GATT:

Accepted Answer

A)  expressly excludes controversies involving patent and copyright violations. 
B)  will allow the United States to assess tariffs against a country that refuses to honor U.S. copyrights or patents. 
C)  imposes sanctions against any country refusing to honor another signatory country's patents or copyrights. 
D)  requires retribution to be paid to the United States by any country ignoring U.S. patents or copyrights. 
A)  expressly excludes controversies involving patent and copyright violations. 
B)  will allow the United States to assess tariffs against a country that refuses to honor U.S. copyrights or patents. 
C)  imposes sanctions against any country refusing to honor another signatory country's patents or copyrights. 
D)  requires retribution to be paid to the United States by any country ignoring U.S. patents or copyrights.

Question 10

Oxtron,Inc.,a U.S.company,and Leer,an Argentinean company,orally agreed to a contract under which Oxtron is to ship medical devices to Leer.The contract is governed by the CISG.Which statement is correct?

Accepted Answer

A)  The contract is not enforceable because it is oral. 
B)  Whether the contract is enforceable without a written agreement depends on the value of the medical devices. 
C)  Whether the contract is enforceable without a written agreement depends on whether the medical devices are a necessity. 
D)  The contract is enforceable without a written agreement. 
A)  The contract is not enforceable because it is oral. 
B)  Whether the contract is enforceable without a written agreement depends on the value of the medical devices. 
C)  Whether the contract is enforceable without a written agreement depends on whether the medical devices are a necessity. 
D)  The contract is enforceable without a written agreement.

Question 11

Although the United States government officially signed the GATT treaty,the United States Congress has refused to ratify the agreement.

Accepted Answer

A) True 
 B)False

Question 12

The United States and Argentina have signed the Convention on Contracts for the International Sale of Goods (CISG).Oxtron,Inc.,a U.S.company,and Leer,an Argentinean company,have entered into a contract under which Oxtron is to ship medical devices to Leer.The contract does not include a choice of law provision.The contract will be governed by:

Accepted Answer

A)  the CISG. 
B)  the UCC. 
C)  the domestic contract law of Argentina. 
D)  the domestic contract law of the United States. 
A)  the CISG. 
B)  the UCC. 
C)  the domestic contract law of Argentina. 
D)  the domestic contract law of the United States.

Question 13

Hardhat Machine Company sold goods to Irish Eyes Company of Northern Ireland.Big Bank issued a letter of credit on behalf of Irish Eyes and the letter was given to Hardhat.The documents required by the letter of credit are presented to the bank for payment while the goods are still in transit.Is Hardhat entitled to be paid?

Accepted Answer

A)  No, payment is not due until the goods are delivered. 
B)  No, payment is not due until 30 days after delivery. 
C)  No, payment is not due until the buyer has had a reasonable time to inspect the goods. 
D)  Yes, the letter of credit is a promise by the bank to pay when certain documents are presented. 
A)  No, payment is not due until the goods are delivered. 
B)  No, payment is not due until 30 days after delivery. 
C)  No, payment is not due until the buyer has had a reasonable time to inspect the goods. 
D)  Yes, the letter of credit is a promise by the bank to pay when certain documents are presented.

Question 14

Zebra Toy Company,located in Chicago,sells $500,000 worth of toys to a London,England,wholesaler.This contract could be governed by:

Accepted Answer

A)  Illinois's Uniform Commercial Code. 
B)  English law. 
C)  the CISG. 
D)  All the above are correct. 
A)  Illinois's Uniform Commercial Code. 
B)  English law. 
C)  the CISG. 
D)  All the above are correct.

Question 15

The two principal requirements of the Foreign Corrupt Practices Act involve bribes and grease payments.

Accepted Answer

A) True 
 B)False

Question 16

If the United States sets a limit on the number of cars that can be imported,this action is a form of tariff.

Accepted Answer

A) True 
 B)False

Question 17

If a foreign company "dumps" goods on the United States market:

Accepted Answer

A)  the goods will be considered illegal goods and not be allowed to be sold in the United States. 
B)  the United States will issue trade sanctions against the country that allowed the dumping. 
C)  a "dumping duty" will be imposed on the dumped goods if the Commerce Department determines the goods are being sold at less than fair value and that this harms an American industry. 
D)  All the above are correct. 
A)  the goods will be considered illegal goods and not be allowed to be sold in the United States. 
B)  the United States will issue trade sanctions against the country that allowed the dumping. 
C)  a "dumping duty" will be imposed on the dumped goods if the Commerce Department determines the goods are being sold at less than fair value and that this harms an American industry. 
D)  All the above are correct.

Question 18

What is a major argument against the GATT Treaty?

Accepted Answer

A)  The United States will have to compete against countries with unlimited pools of exploited labor. 
B)  The United States will lose millions of jobs involving low-end employment and these types of workers are least capable of finding other employment. 
C)  Both a and b above are major arguments against GATT. 
D)  Neither a nor b above is a major argument against GATT. 
A)  The United States will have to compete against countries with unlimited pools of exploited labor. 
B)  The United States will lose millions of jobs involving low-end employment and these types of workers are least capable of finding other employment. 
C)  Both a and b above are major arguments against GATT. 
D)  Neither a nor b above is a major argument against GATT.

Question 19

Axle Corporation imports goods into the United States.Who is required to pay the duty on the imported goods?

Accepted Answer

A)  The importer, Axle Corporation. 
B)  The World Trade Organization. 
C)  Each party pays one-half the duty. 
D)  The exporter of the goods. 
A)  The importer, Axle Corporation. 
B)  The World Trade Organization. 
C)  Each party pays one-half the duty. 
D)  The exporter of the goods.

Question 20

Explain the origin and purpose of the World Trade Organization.

Accepted Answer

The WTO was established by GATT.It has t

Exam 9: International Law

What is a major difference between a United States lawsuit versus a French lawsuit?

For manufactured goods,the United States and European Union impose an average tariff of ________ percent,and major trading partners around the world impose tariffs of ________ percent for identical items.

The United States is the world's largest exporter of agricultural products.

When considering both imports and exports,the country trading the most goods with the United States is:

Hardhat Machine Company sold goods to Irish Eyes Company of Northern Ireland.Big Bank issued a letter of credit on behalf of Irish Eyes and the letter was given to Hardhat.The "account party" is:

MagNet is a U.S.company based in Utah.It is negotiating to sell $4 million worth of computer goods to a French company,L'la.L'la is insisting that the contract be governed by the CISG.What are some of the primary differences between the UCC and the CISG?

The Australian government has opened a for-profit tourist information center in New York City.If a dispute arises over the lease of the storefront,may the landlord sue the Australian government in the United States courts?

With respect to United States patents and copyrights,GATT:

Oxtron,Inc.,a U.S.company,and Leer,an Argentinean company,orally agreed to a contract under which Oxtron is to ship medical devices to Leer.The contract is governed by the CISG.Which statement is correct?

Although the United States government officially signed the GATT treaty,the United States Congress has refused to ratify the agreement.

Zebra Toy Company,located in Chicago,sells $500,000 worth of toys to a London,England,wholesaler.This contract could be governed by:

The two principal requirements of the Foreign Corrupt Practices Act involve bribes and grease payments.

If the United States sets a limit on the number of cars that can be imported,this action is a form of tariff.

If a foreign company "dumps" goods on the United States market:

What is a major argument against the GATT Treaty?

Axle Corporation imports goods into the United States.Who is required to pay the duty on the imported goods?

Explain the origin and purpose of the World Trade Organization.

Introduction To Law

Business Ethics And Social Responsibility

Dispute Resolution

Common Law,Statutory Law,And Administrative Law

Constitutional Law

Intentional Torts And Business Torts

Negligence And Strict Liability

Crime

Introduction To Contracts

Agreement

Consideration

Legality

Capacity And Consent

Written Contracts

Third Parties

Performance And Discharge

Remedies

Practical Contracts

Introduction To Sales

Ownership And Risk

Warranties And Product Liability

Performance And Remedies

Secured Transactions

Creating A Negotiable Instrument

Liability For Negotiable Instruments

Accountants' Liability

Agency Law

Employment Law

Labor Law

Starting A Business

Partnerships

Life And Death Of A Corporation

Corporate Management

Shareholders

Securities Regulation

Bankruptcy

Antitrust

Consumer Law

Environmental Law

Cyberlaw

Intellectual Property

Real Property And Tenant-landlord Law

Personal Property And Bailment

Planning For The Future: Wills,Trusts,And Insurance

Filters

For manufactured goods,the United States and European Union impose an average tariff of percent,and major trading partners around the world impose tariffs of percent for identical items.