Question 1

WiFi Corporation,a U.S.firm,signs a contract with Bueno Computadores,Ltd. ,an Argentinean firm,for a shipment and payment for WiFi's goods.This is

Accepted Answer

A) a distribution agreement. 
B) a joint venture. 
C) direct exporting. 
D) licensing. 
A) a distribution agreement. 
B) a joint venture. 
C) direct exporting. 
D) licensing. C

Question 2

Michael,a citizen of Ireland,and Nina,a citizen of the United States,enter into a contract.When Nina breaches the contract,Michael obtains an award of damages in an Irish court.He asks a U.S.court to enforce the award.The U.S.court defers to and enforces the Irish court's decree.This is

Accepted Answer

A) a travesty of justice. 
B) the act of state doctrine. 
C) the doctrine of sovereign immunity. 
D) the principle of comity. 
A) a travesty of justice. 
B) the act of state doctrine. 
C) the doctrine of sovereign immunity. 
D) the principle of comity. D

Question 3

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

Accepted Answer

A) True 
 B)False  True

Question 4

China and India form an agreement to govern their commercial exchanges with one another.This is

Accepted Answer

A) a bilateral agreement. 
B) a lateral agreement. 
C) a multilateral agreement. 
D) a unilateral agreement. 
A) a bilateral agreement. 
B) a lateral agreement. 
C) a multilateral agreement. 
D) a unilateral agreement.

Question 5

A U.S.citizen can bring a civil suit in a U.S.court against a U.S.entity for a tort allegedly committed overseas.

Accepted Answer

A) True 
 B)False

Question 6

The chief aim of the World Trade Organization and other trade agreements is to maximize trade barriers among their members.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

The law of Chile,Germany,or Japan is

Accepted Answer

A) global,transnational law. 
B) national law. 
C) private international law. 
D) public international law. 
A) global,transnational law. 
B) national law. 
C) private international law. 
D) public international law.

Question 9

Quotas are limits on the amounts of goods that can be imported.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) all of the operation,and its profits and liabilities. 
B) all of the operation,and none of its profits and liabilities. 
C) none of the operation,and none of its profits and liabilities. 
D) part of the operation,and shares its profits and liabilities. 
A) all of the operation,and its profits and liabilities. 
B) all of the operation,and none of its profits and liabilities. 
C) none of the operation,and none of its profits and liabilities. 
D) part of the operation,and shares its profits and liabilities.

Question 11

The Foreign Sovereign Immunities Act spells out the particulars of what constitutes a commercial activity.

Accepted Answer

A) True 
 B)False

Question 12

Vieux Carré S.A. ,a French firm,imports its goods into the United States and offers those goods for sale at "less than fair value." "Fair value" is the price of

Accepted Answer

A) comparable goods in a select "basket" of other countries. 
B) Vieux Carré's goods in France. 
C) Vieux Carré's goods in the United States. 
D) Vieux Carré's goods on the world market. 
A) comparable goods in a select "basket" of other countries. 
B) Vieux Carré's goods in France. 
C) Vieux Carré's goods in the United States. 
D) Vieux Carré's goods on the world market.

Question 13

Antidumping duties are the responsibilities of international environmental polluters.

Accepted Answer

A) True 
 B)False

Question 14

Mountain Mining Company,a U.S.firm,owns property in Bolivia.The government of Bolivia seizes the property for an illegal purpose without paying just compensation.This is

Accepted Answer

A) confiscation. 
B) defalcation. 
C) dumping. 
D) expropriation. 
A) confiscation. 
B) defalcation. 
C) dumping. 
D) expropriation.

Question 15

Expropriation occurs when a government seizes private property for an illegal purpose and awards just compensation.

Accepted Answer

A) True 
 B)False

Question 16

The management of Sport Shoes Corporation,a U.S.firm,wants to expand into foreign investment and employment markets.They are considering ei?ther opening their own production facility in a foreign country or entering into a licensing agreement with a foreign firm.What are the advantages and disadvantages of each of these courses of action?

Accepted Answer

One of the advantages of opening a wholl

Question 17

Capital Diversified Corporation (CDC)owns assets in Dagistan,a new country in Asia.The government of Dagistan wants to nationalize all assets owned by foreign firms and investors.What can CDC do? Can it at least obtain payment for the assets?

Accepted Answer

If a government decides to seize propert

Question 18

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

Accepted Answer

A) a violation of a treaty of the United States only. 
B) a violation of a treaty of the United States or of the law of nations. 
C) a violation of the law of nations only. 
D) no purpose. 
A) a violation of a treaty of the United States only. 
B) a violation of a treaty of the United States or of the law of nations. 
C) a violation of the law of nations only. 
D) no purpose.

Question 19

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

Accepted Answer

A) no court or international organization. 
B) the European Union. 
C) the International Court of Justice. 
D) the United Nations General Assembly. 
A) no court or international organization. 
B) the European Union. 
C) the International Court of Justice. 
D) the United Nations General Assembly.

Question 20

A forum-selection clause indicates the place for the resolution of a dispute arising under a contract.

Accepted Answer

A) True 
 B)False

Exam 31: International Law in a Global Economy

WiFi Corporation,a U.S.firm,signs a contract with Bueno Computadores,Ltd. ,an Argentinean firm,for a shipment and payment for WiFi's goods.This is

Michael,a citizen of Ireland,and Nina,a citizen of the United States,enter into a contract.When Nina breaches the contract,Michael obtains an award of damages in an Irish court.He asks a U.S.court to enforce the award.The U.S.court defers to and enforces the Irish court's decree.This is

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

China and India form an agreement to govern their commercial exchanges with one another.This is

A U.S.citizen can bring a civil suit in a U.S.court against a U.S.entity for a tort allegedly committed overseas.

The chief aim of the World Trade Organization and other trade agreements is to maximize trade barriers among their members.

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

The law of Chile,Germany,or Japan is

Quotas are limits on the amounts of goods that can be imported.

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

The Foreign Sovereign Immunities Act spells out the particulars of what constitutes a commercial activity.

Vieux Carré S.A. ,a French firm,imports its goods into the United States and offers those goods for sale at "less than fair value." "Fair value" is the price of

Antidumping duties are the responsibilities of international environmental polluters.

Mountain Mining Company,a U.S.firm,owns property in Bolivia.The government of Bolivia seizes the property for an illegal purpose without paying just compensation.This is

Expropriation occurs when a government seizes private property for an illegal purpose and awards just compensation.

Capital Diversified Corporation (CDC)owns assets in Dagistan,a new country in Asia.The government of Dagistan wants to nationalize all assets owned by foreign firms and investors.What can CDC do? Can it at least obtain payment for the assets?

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

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

A forum-selection clause indicates the place for the resolution of a dispute arising under a contract.

The Legal and Constitutional Environment of Business

Traditional and Online Dispute Resolution

Ethics and Business Decision Making

Torts and Cyber Torts

Intellectual Property and Internet Law

Criminal Law and Cyber Crime

Nature and Classification

Agreement in Traditional and E-Contracts

Consideration,capacity,and Legality

Defenses to Contract Enforceability

Third Party Rights and Discharge

Breach and Remedies

The Formation of Sales and Lease Contracts

Performance Breach of Sales Lease Contracts

Warranties and Product Liability

Negotiability,transferability,and Liability

Checks and Banking in the Digital Age

Security Interests in Personal Property

Creditors Rights and Bankruptcy

Mortgages Foreclosures After the Recession

Agency Relationships

Management Perspective: Independent-Contractor Negligence

Employment, immigration, and Labor Law

Sole Proprietorships, partnerships, Limited Liability Co

Corporate Formation, financing, and Termination

Corporate Directors, officers, Shareholders

Investor Protection, insider Trading, Corp Gov

Personal Property and Bailments

Real Property and Landlord-Tenant Law

Insurance, wills, and Trusts

Liability of Accountants Other Professionals

Adapting the Law to the Online Environment: The Supreme Court Upholds a Law That Prohibits Pandering Virtual Child Pornography

Adapting the Law to the Online Environment: Should the Law Continue to Allow Business Process Patents

Management Perspective: E-Mailed Credit-Card Receipts

Case Study With Dissenting Opinion: Prestridge V Bank of Jena

Adapting the Law to the Online Environment: The Thorny Issue of Taxing Internet Sales

Adapting the Law to the Online Environment: The Debt That Never Goes Awayits Discharged in Bankruptcy but Still on the Debtors Credit Report

Adapting the Law to the Online Environment: Economic Recession Fuels the Amazon Tax Debate

Case Study With Dissenting Opinion: Kovarik V Kovarik

Unit Case Study With Dissenting Opinion: Dole Food Co V Patrickson

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