Question 1

When a U.S. firm wishes to increase its involvement in an international market, it normally establishes an agency relationship with a foreign firm.

Accepted Answer

A) True 
 B)False  False

Question 2

Any conspiracy that has a substantial effect on U.S. commerce is within the reach of the U.S. antitrust laws.

Accepted Answer

A) True 
 B)False  True

Question 3

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 4

International law is a body of law that governs relations between and among citizens, not countries.

Accepted Answer

A) True 
 B)False

Question 5

In direct exporting, a U.S. company signs a sales contract with a foreign purchaser that provides for the conditions of shipment and payment of goods.

Accepted Answer

A) True 
 B)False

Question 6

KO Marketing Company, a U.S. firm, signs a contract with Librador Corporacion, a Chilean firm, to give Librador the right to use Innovative's animation techniques and characters in product promotions. 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.

Question 7

Yokio, Ltd., and Zeno, S.A., transact an international sale of goods. At the request of these parties, a court in Portugal resolves a dispute between them. A U.S. court will most likely honor the judgment

Accepted Answer

A)  if it is consistent with U.S. laws and public policy. 
B)  if it is consistent with Portuguese laws and public policy. 
C)  if it does not benefit the U.S. to deny it. 
D)  under no circumstances. 
A)  if it is consistent with U.S. laws and public policy. 
B)  if it is consistent with Portuguese laws and public policy. 
C)  if it does not benefit the U.S. to deny it. 
D)  under no circumstances.

Question 8

A party to a licensing agreement generally agrees to pay royalties on some basis.

Accepted Answer

A) True 
 B)False

Question 9

Dumping is the exporting of environmentally polluting goods to a foreign market.

Accepted Answer

A) True 
 B)False

Question 10

Two Japanese firms-Mikato, Ltd., and Shuzushi, Ltd.-enter into a joint venture in an attempt to in?crease their market share of the U.S. auto market. If the joint venture is not a per se violation of U.S. antitrust laws, a U.S. court could ex?ercise jurisdiction over the firms

Accepted Answer

A)  if the joint venture has a substantial effect on U.S. commerce. 
B)  if the joint venture has any effect on U.S. commerce. 
C)  if the joint venture was entered into in the United States. 
D)  under no circumstances. 
A)  if the joint venture has a substantial effect on U.S. commerce. 
B)  if the joint venture has any effect on U.S. commerce. 
C)  if the joint venture was entered into in the United States. 
D)  under no circumstances.

Question 11

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

Accepted Answer

A)  the act of state doctrine. 
B)  the doctrine of sovereign immunity. 
C)  the Foreign Corrupt Practices Act. 
D)  the principle of comity. 
A)  the act of state doctrine. 
B)  the doctrine of sovereign immunity. 
C)  the Foreign Corrupt Practices Act. 
D)  the principle of comity.

Question 12

Premier Clothing, Inc., a U.S. firm, obtains a judgment in a U.S. court against Quang Tri, Ltd., a Vietnamese business. Whether the court's judgment will be enforced by a court in Vietnam depends on the Vietnamese court's application of

Accepted Answer

A)  the act of state doctrine. 
B)  the doctrine of sovereign immunity. 
C)  the principle of comity. 
D)  the World Trade Organization. 
A)  the act of state doctrine. 
B)  the doctrine of sovereign immunity. 
C)  the principle of comity. 
D)  the World Trade Organization.

Question 13

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

Accepted Answer

A)  allege antitrust injuries under the Sherman Act. 
B)  bring civil suits under the Alien Tort Claims Act. 
C)  file criminal complaints under Title VII of the Civil Rights Act. 
D)  do nothing. 
A)  allege antitrust injuries under the Sherman Act. 
B)  bring civil suits under the Alien Tort Claims Act. 
C)  file criminal complaints under Title VII of the Civil Rights Act. 
D)  do nothing.

Question 14

The basis for India to give effect to the laws and court decisions of the United States is primarily

Accepted Answer

A)  courtesy and respect. 
B)  fear and intimidation. 
C)  admiration and envy. 
D)  payments of cash and exchanges of property. 
A)  courtesy and respect. 
B)  fear and intimidation. 
C)  admiration and envy. 
D)  payments of cash and exchanges of property.

Question 15

U.S. Cars, a U.S. firm, owns property in Argentina. The government of Argentina seizes the property. U.S. Cars claims that this is confiscation. The government of Argentina claims that it is expropriation. The burden of proof lies with

Accepted Answer

A)  the U.S. government. 
B)  the government of Argentina. 
C)  U.S. Cars. 
D)  the U.S. Supreme Court. 
A)  the U.S. government. 
B)  the government of Argentina. 
C)  U.S. Cars. 
D)  the U.S. Supreme Court.

Question 16

The U.S. corporation Fun Toys, Inc. sets up a firm in China. The parent company remains in the United States and retains complete ownership of the China branch as well as complete authority and control over all phases of the operation. This is

Accepted Answer

A)  a franchise. 
B)  a wholly owned subsidiary. 
C)  a joint venture. 
D)  direct exporting. 
A)  a franchise. 
B)  a wholly owned subsidiary. 
C)  a joint venture. 
D)  direct exporting.

Question 17

Dumping is the sale of imported goods at "less than fair value."

Accepted Answer

A) True 
 B)False

Question 18

Miranda is a U.S. citizen working in Europe for Tourist Vacations, Inc., a U.S. travel agency. Tourist fires Miranda for reasons that she believes vio?late U.S. antidis?crimination laws. Those laws apply

Accepted Answer

A)  extraterritorially. 
B)  only to signatories of the North American Free Trade Agreement. 
C)  only to members of the World Trade Organization. 
D)  only within U.S. borders. 
A)  extraterritorially. 
B)  only to signatories of the North American Free Trade Agreement. 
C)  only to members of the World Trade Organization. 
D)  only within U.S. borders.

Question 19

In some cases, foreign states are not immune from the jurisdiction of U.S. courts. These circumstances are governed by the

Accepted Answer

A)  Uniform Commercial Code. 
B)  Foreign Sovereign Immunities Act. 
C)  European Union. 
D)  North American Free Trade Agreement. 
A)  Uniform Commercial Code. 
B)  Foreign Sovereign Immunities Act. 
C)  European Union. 
D)  North American Free Trade Agreement.

Question 20

Force majeure clauses in international business contracts commonly set forth the major clauses of the contracts.

Accepted Answer

A) True 
 B)False

Exam 27: International Law in a Global Economy

When a U.S. firm wishes to increase its involvement in an international market, it normally establishes an agency relationship with a foreign firm.

Any conspiracy that has a substantial effect on U.S. commerce is within the reach of the U.S. antitrust laws.

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

International law is a body of law that governs relations between and among citizens, not countries.

In direct exporting, a U.S. company signs a sales contract with a foreign purchaser that provides for the conditions of shipment and payment of goods.

KO Marketing Company, a U.S. firm, signs a contract with Librador Corporacion, a Chilean firm, to give Librador the right to use Innovative's animation techniques and characters in product promotions. This is

Yokio, Ltd., and Zeno, S.A., transact an international sale of goods. At the request of these parties, a court in Portugal resolves a dispute between them. A U.S. court will most likely honor the judgment

A party to a licensing agreement generally agrees to pay royalties on some basis.

Dumping is the exporting of environmentally polluting goods to a foreign market.

Two Japanese firms-Mikato, Ltd., and Shuzushi, Ltd.-enter into a joint venture in an attempt to in?crease their market share of the U.S. auto market. If the joint venture is not a per se violation of U.S. antitrust laws, a U.S. court could ex?ercise jurisdiction over the firms

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

Premier Clothing, Inc., a U.S. firm, obtains a judgment in a U.S. court against Quang Tri, Ltd., a Vietnamese business. Whether the court's judgment will be enforced by a court in Vietnam depends on the Vietnamese court's application of

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

The basis for India to give effect to the laws and court decisions of the United States is primarily

U.S. Cars, a U.S. firm, owns property in Argentina. The government of Argentina seizes the property. U.S. Cars claims that this is confiscation. The government of Argentina claims that it is expropriation. The burden of proof lies with

The U.S. corporation Fun Toys, Inc. sets up a firm in China. The parent company remains in the United States and retains complete ownership of the China branch as well as complete authority and control over all phases of the operation. This is

Dumping is the sale of imported goods at "less than fair value."

Miranda is a U.S. citizen working in Europe for Tourist Vacations, Inc., a U.S. travel agency. Tourist fires Miranda for reasons that she believes vio?late U.S. antidis?crimination laws. Those laws apply

In some cases, foreign states are not immune from the jurisdiction of U.S. courts. These circumstances are governed by the

Force majeure clauses in international business contracts commonly set forth the major clauses of the contracts.

The Legal Environment

Constitutional Law

Courts and Alternative Dispute Resolution

Torts and Cyber Torts

Intellectual Property and Internet Law

Criminal Law and Cyber Crime

Ethics and Business Decision Making

Nature and Classification

Agreement in Traditional and E-Contracts

Consideration

Capacity and Legality

Voluntary Consent

The Statute of Fraudswriting Requirement

Performance and Discharge

Breach and Remedies

Third Party Rights

The Formation of Sales and Lease Contracts

Title and Risk of Loss

Performance and Breach of Sales Lease Contracts

Warranties and Product Liability

Negotiable Instruments: Transferability Liability

Checks and Banking in the Digital Age

Security Interests in Personal Property

Other Creditors Remedies and Suretyship

Bankruptcy

Mortgages Foreclosures After the Recession

Agency Relationships in Business

Employment, Immigration, and Labor Law

Employment Discrimination and Diversity

Sole Proprietorships and Private Franchises

All Forms of Partnership

Limited Liability Companies Special Business Forms

Corporate Formation and Financing

Corporate Directors, Officers, and Shareholders

Corporate Acquisitions, Takeovers, and Termination

Investor Protection, Insider Trading, Corp Governance

Administrative Law

Promoting Competition

Consumer and Environmental Law

Liability of Accountants Other Professionals

Personal Property and Bailments

Real Property and Landlord-Tenant Law

Insurance, Wills, and Trusts

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