Exam 32: International Law in a Global Economy

Explore all topics

Savory Cooking Sauces,Inc. ,a U.S.business firm,makes and sells distinc?tively flavored cooking sauces.Although the recipes are secret,the ingre?di?ents could be revealed and the sauces could be reconstructed with dili?gent efforts.What can Savory do to prevent its products from being "decoded" and pirated abroad?

Free

(Essay)

4.9/5

(42)

Question 1

Correct Answer:

Verified

One possibility is that Savory Cooking Sauces,or any U.S.firm,or any domestic firm in any nation,can license its recipe,formula,prod?uct,or process to a foreign company to avoid the theft of the trade se?cret.The foreign firm would obtain the right to make and sell the product ac?cording to the recipe (or formula,or right to use the process,or other trade secret)and agree to keep the information confidential and to pay royalties to the licensing firm.The royalties might be based on so many cents per unit made or a percentage of profits from units sold in a particular geographic territory.Licensing can benefit both parties to the deal.A firm that receives the license can take advantage of an established reputation.The firm that grants the license can receive income from the sale of the license or the sales of its products and may enhance its reputation through this marketing.Once a firm's products are more widely known globally,the firm may experience an increased demand for other products that it makes or sells.

Quotas are limits on the prices at which imported goods can be sold.

Free

(True/False)

4.9/5

(36)

Question 2

Correct Answer:

Verified

False

Common law and civil law systems are wholly distinct.

Free

(True/False)

4.8/5

(37)

Question 3

Correct Answer:

Verified

False

The government of Iran violates an international law.Persuasive tactics to remedy the situation fail.The only recourse of other nations is to

(Multiple Choice)

4.7/5

(40)

Question 4

To obtain a contract with the Chinese government,Definitive Engineering Corporation a U.S.firm,gives a Chinese official a sport utility vehicle.This may violate

(Multiple Choice)

4.7/5

(29)

Question 5

Congress cannot impose any restrictions on exports except taxes.

(True/False)

4.9/5

(33)

Question 6

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

(True/False)

4.8/5

(39)

Question 7

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

(Multiple Choice)

4.9/5

(27)

Question 8

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

(True/False)

4.9/5

(33)

Question 9

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

(Multiple Choice)

5.0/5

(28)

Question 10

Senator Wyden and other politicians want to limit the flow of technologically advanced products and data from the United States to other countries.To carry out this objective,Congress can

(Multiple Choice)

4.9/5

(31)

Question 11

A party to a licensing agreement generally agrees to pay "royalties" to a foreign official.

(True/False)

4.9/5

(29)

Question 12

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

(True/False)

4.8/5

(34)

Question 13

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

(Multiple Choice)

5.0/5

(36)

Question 14

Antidumping duties are the responsibilities of international environmental polluters.

(True/False)

4.9/5

(38)

Question 15

The primary aim of the North American Free Trade Agreement is to eliminate tariffs among the United States,Canada,and Mexico.

(True/False)

4.8/5

(45)

Question 16

A force majeure clause stipulates eventualities that excuse a party from liability for nonperformance of a contract.

(True/False)

4.8/5

(36)

Question 17

Call Center Corporation,a U.S.firm,owns property in India.The government of India seizes the property for a proper public purpose and pays Call Center just compensation.This is

(Multiple Choice)

4.9/5

(37)

Question 18

When a forum-selection clause is included in an interna?tional contract,legal proceedings are more complex and attended by more uncertainty.

(True/False)

4.8/5

(37)

Question 19

The Council of Ministers and the Court of Justice are among the govern?ing authorities of an international trading organization known as

(Multiple Choice)

4.7/5

(48)

Question 20

Showing 1 - 20 of 72

Exam 32: International Law in a Global Economy

Quotas are limits on the prices at which imported goods can be sold.

Common law and civil law systems are wholly distinct.

The government of Iran violates an international law.Persuasive tactics to remedy the situation fail.The only recourse of other nations is to

To obtain a contract with the Chinese government,Definitive Engineering Corporation a U.S.firm,gives a Chinese official a sport utility vehicle.This may violate

Congress cannot impose any restrictions on exports except taxes.

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

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

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

Senator Wyden and other politicians want to limit the flow of technologically advanced products and data from the United States to other countries.To carry out this objective,Congress can

A party to a licensing agreement generally agrees to pay "royalties" to a foreign official.

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

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

Antidumping duties are the responsibilities of international environmental polluters.

The primary aim of the North American Free Trade Agreement is to eliminate tariffs among the United States,Canada,and Mexico.

A force majeure clause stipulates eventualities that excuse a party from liability for nonperformance of a contract.

Call Center Corporation,a U.S.firm,owns property in India.The government of India seizes the property for a proper public purpose and pays Call Center just compensation.This is

When a forum-selection clause is included in an interna?tional contract,legal proceedings are more complex and attended by more uncertainty.

The Council of Ministers and the Court of Justice are among the govern?ing authorities of an international trading organization known as

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 Crimes

Nature and Classification

Agreement and Consideration

Capacity and Legality

Defenses to Contract Enforceability

Third Party Rights and Discharge

Breach and Remedies

E-Contracts and E-Signatures

The Formation of Sales and Lease Contracts

Title and Risk of Loss

Performance Breach of Sales Lease Contracts

Warranties and Product Liability

Negotiability, transferability, and Liability

Checks and Banking in the Digital Age

Security Interest in Personal Property

Creditors Rights and Bankruptcy

Agency Relationships

Employment Law and Immigration

Sole Proprietorships, partnerships, Ltd Liability

Corporate Formation, financing, and Termination

Corporate Directors, officers, and Shareholders

Investor Protection, insider Trading, Corpgov

Personal Property and Bailments

Real Property and Landlord-Tenant Law

Insurance, wills, and Trusts

Liability of Accountants Other Professionals

Regulations, Contracts, and Discovery

Legal Issues in Business and Commerce

Legal Issues in Online Relationships and Agreements

Contracts and Consumer Protection

Liability of Silverado Bank in Prestridge v. Bank of Jena for Forged Checks.

Sovereign Immunity and Bankruptcy Law

Legal Issues in Employment and Liability Cases

Corporate Governance and Securities Law

Real Estate Law: Cases and Controversies

Corporate Ownership and Liability in Chilean Firms

Filters