Exam 7: International Law in a Global Economy

International law attempts to reconcile the authority of each nation over its own affairs with its desire to benefit from trade and harmonious relations.

Under a letter of credit,the issuer is bound to pay the beneficiary after the beneficiary complies with the terms of the letter.

Diners Corporation,a U.S.firm,signs a contract with Essen,A,G.,a German firm,to give Essen the right to use Diners' trademark in restaurants in Germany.This is

The Association of Southeast Asian Nations is a regional trade association that was created through

The act of state doctrine provides that only a head of state can make treaties with another nation.

Sudan seizes the assets of Triage Medical,Inc.,a U.S.firm.Triage's recovery from Sudan in a U.S.court may be prevented by

The government of the United States and the governments of other nations have the power to enforce their respective national laws within their borders.The power to enforce international law within the borders of all nations rests with

The United States and other members of a certain organization agree to grant normal trade relations status on each other with regard to imports and exports.This organization is

Suisse Internationale,a Swiss maker of athletic equipment,enters into a price fixing agreement with Total World Sports,a U.S.wholesaler of Suisse's products.U.S.courts will apply U.S.antitrust laws if

Fabiola,or any foreign citizen,can bring a civil suit in a U.S.court for

Restrictions on imports may include quotas.

Refer to Fact Pattern 7-1.First State Bank must pay Lapland when Lapland

A foreign citizen can bring a civil suit in a U.S.court for a violation of a treaty of the United States.

A treaty is a contract or other agreement between two or more nations that must be ratified by the United Nations to take effect.

The United States taxes each barrel of imported oil at a flat rate.This is

The government of Japan sets a limit on the amount of rice that can be imported from the United States.This is

Qang and other foreign citizens allege human rights violations committed overseas by the government of Burma on behalf of Railway Construction Company,a U.S.firm.To seek redress for their injuries in a U.S.court,these citizens can

Congress cannot impose any restrictions on exports except taxes.

Quality Energy Company,a U.S.firm,and Royal Petro,a Dutch firm,enter into a contract that includes an arbitration clause.This clause must provide that the arbitrator will be

Secure Investments,Inc.,a U.S.firm,expands into international markets through a joint venture.In this situation,Secure owns